On today's podcast:
1) Netanyahu Says Israel-Hamas Deal to Pause Gaza War On Track
2) Bessent Clears Senate Grilling, Paving Way for Confirmation
3) Apple, Amazon, Netflix to Stream LA Fires Charity Concert
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 latest developments in the Middle East. Israeli Prime Minister Benjamin NETANYAHUO says an agreement with Hamas to pause the war in Gaza has been finalized. That suggests the truce will begin on Sunday. We get the latest from Bloomberg's Oliver Crook in Tel Aviv.
On Sunday, you will begin the ceasefire. That means that all the sort of fighting will be paused in Gaza for six weeks. We understand that will also mean the release of three female hostages to begin on Sunday. There's a total of thirty three that would be released over this sort of six week phase. Then you get three or four hostages every sort of four or five.
Days over the next few weeks.
As that happens, prisoners will be returned from the Israeli side to the Palestinian side. We understand those will be by the hundreds, certainly over one thousand, and critically, the troops will be progressively pulled out of the populated areas of God and basically will be evacuated to the eastern flank of the Strip, and it will also allow for humanitarian aid to sort of come in at a much larger pace than.
It has Bloomberg's Allikook and Tel Aviv, reports Natagnat, who's ordered his security cabinets to meet to approve the truce. That meeting is now underway.
Well, Nathan, the Supreme Court has signal that's ready to rule as soon as today on the law that would ban TikTok in the US unless it finds a new owner. But even if the High Court upholds the ban, TikTok could win a reprieve. We get more on that with the Bloomberg's genis are ready.
The law calls for TikTok to shut down this Sunday unless it's Chinese owner, by dance, lines up a buyer for its US operations, But this Sunday falls before a federal holiday in President elect Trump's inauguration, so Biden administration officials say that essentially punts the issue to the next administration. The law also allows for a ninety day extension if a serious purchase negotiation is underway. Trump's incoming National Security advisor says they'll find a way to keep the deadline going. Democrats in the Senate have also entered who is to build that would give TikTok another two hundred and seventy days to reach a deal. Gina Cervetti Bloomberg Radio.
Well, Gina, thank you. As you mentioned, we are just three days away from Donald Trump being sworn in for his second term. Chinese President Shi Jinping will skip the inauguration on Monday, but he's sending Vice President Han Jiang instead. Nvidia CEO Jensen Wong is also expected to miss the inaugural. Sources to say he's visiting East Asia this week, but there will be plenty of high profile US technology leaders there. They include Apple CEO Tim Cook, Amazon co founder Jeff Bezos, as well as Elon musk.
Well Nathan, one of Trump's key cabinet pigs, is on track to be confirmed. After a confirmation hearing that lasted for hours. Treasury Secretary nominee Scott besst Warren lawmakers that they must extend the twenty seventeen tax cuts or risk an economic crisis, and Bloomberg's Amy Morris has more from Washington.
Besn't called extending the twenty seventeen tax cuts the single most important economic issue of the day.
If we do not renew an extent, we will be facing an economic calamity that falls on the middle and working class people.
Hasn't told lawmakers that if Donald Trump wanted to get rid of the debt limit, he would quote work with him and you on that the United.
States is not going to default on its debt if I'm confirmed.
And Besant told lawmakers he would support Russian oil sanctions.
I will be one hundred percent on board for taking sanctions up, especially on the Russian oil majors, two levels that would bring Russian Federation to the table.
And he said he respected the federal reserves independence over monetary policy. In Washington, Amy Morris Bloomberg Radio, Amy.
Thank you, and President Electrump may also be close to picking a new head of the Secret Service. CNN is reporting he's expected to name his current Secret Service Detail leader, Sean Current, to be the new director.
Well, Nick, and we're learning more about the government cyber attack that the Treasury Department is blamed on Chinese state sponsored hackers. Sources tell Bloomberg's the brand the breach when as high within the agency as it could get. Treasury Secretary Agenet Yellen's computer was said to be breached, along with those of her two top lieutenants, Deputy Secretary Wally Atayemo and Acting under Secretary Brad Smith. Our sources a fewer than fifty of Yellen's files were accessed and nothing classified was taken, but the hackers appeared to focus on Treasury's role in sanctions, intelligence, and international affairs.
I want to turn out Karen to the latest on the wildfires in Los Angeles, and right now it looks like firefighters are making progress. Let's get the update now from Bloomberg's John Tucker, John and Nathan.
The gusting wins that have rattled the region for more than a week have now subsided, giving the firefighters a much needed boost as they mop up hopspots. Forty thousand acres have burned in two ferocious fires. Electricity, gas and sewage lines they're wrecked, and there's toxic waste everywhere. There's also a growing threat of hazardous mud slides. And if that's not enough, the California Attorney General Rob Bonta Tael's residents to beware of scammers.
Folks across the region are being preyed upon by greedy businesses and landlords, scam artists, and predatory buyers looking to make a quick buck off their pain. They are seeking to revictimize the victims of the fires.
The two largest fires, the palle Stags and Eaten Fires. They continue to burn, but fire crews are again making progress. The death toll that's risen to twenty seven and the search for the missing continues. On John Tucker Bloomberg Radio.
All Right, John, thank you well. A concert to raise money for the Los Angeles wildfire victims will be held on January thirtieth. It'll be broadcast on multiple streaming services including Netflix, Amazon, and Apple, as well as in select AMC theaters and on radio and music streaming sites. Billie Eilish, Lady Yaga, and the Red Hot Chili Peppers are among those expected to perform.
Let's turn now to space we have SpaceX launched its Starship Rocket on its latest test flight, but the spacecraft was destroyed following a thrilling booster catch back at the pad. Elon Musk's company says Starship broke apart in what it called a rapid unscheduled assembly. The spacecraft's six engines appeared to shut down one by one during a cent with contact loss just eight and a half minutes into the flight. The spacecraft is a new and upgraded model making its debut. It was packed with ten dummy satellites for practice at releasing them. A minute before the loss, SpaceX used the launch tower's giant mechanical arms to catch the returning booster. That's a feat that's only been achieved once before.
Well, Nathan. We turned to the markets, and futures are higher as we close out the trading week. Bank of America says Donald Trump's returned to the White House will likely protect stocks from a big sell off. The firm strategists say investors will focus on Trump's protectionist agenda and proposals for lower corporate taxes.
And Karen Bloomberg News has learned Rio Tinto and the glen Core have conducted early stage talks around a merger. A combination of these two would create a company larger than industry leader BHP Group. And we get more from Bloomberg's Paul Allen, this would be a behemoth. This is the big one.
Rio Tinto's going to market cap of about one hundred and three billion, Glenn Call's worth about fifty five billion, and if you put those two together, yeah, you'd get an entity that surpasses the world's biggest minu bhp. So this would be a huge, huge deal, the biggest stay ever in the mining space if it goes ahead.
Bloomberg's Paul Allen says the discussions took place as recently as late last year, but are not currently active.
And it's time now for.
A look at some of the other stories making news in New York and around the world. And for that we're joined by Bloomberg's and Michael Barr Michael good Morning, Good morning Karen.
New York Mayor Eric Adams, who is under a federal indictment. We'll meet with Donald Trump at the president of a Lex Mari Lago estate today. According to Adams aids, the two men would discuss New Yorker's priorities. Trump has voiced his support for Adams in the past, even saying he would take a look at a possible pardon for him if needed. Former New York City Mayor Rudy Giuliani will keep his apartments and World Series rings a federal judge in New York was set to decide whether Giuliani would have to hand them over to two election workers who sued him for defamation. Ruby Freeman and Shay Moss won a one hundred and forty eight million dollar judgment against him. In thursday surprise settlement, Giuliani agreed to provide the plaintiffs with unspecified compensation and promised not to defame them again outside the court. Giuliani's attorney, Joseph Camarata, stressed that the settlement does not include an omission of guilt.
After long negotiations over the last seventy two hours from going well into will be hours of the night, all parties.
Resar resolution this case for the satisfactory.
In old parties, Giuliani has already turned over many belongings and the terms were not disclosed. His son, Andrew Giuliani, well, I.
Just want to say, as a son, as an American, I'm so proud of my father to see what he's been put through over the last four years.
Giuliani never showed up to court, and for several hours it was a mystery as to why until his attorney announced the settlement. Governor Cathy Hockle announced increased overnight security on New York City subway trains.
We are deploying an additional to seven hundred and fifty NYPD, and I want to bolster the police presence overnight.
Governor Hokel says it's part of a seventy seven million dollar strategy that will also see three hundred more officers on overnight trains. President Joe Biden will commute the sentences of nearly twenty five hundred non violent drug offenders whose sentences were longer than they receive under current standards. The White House said in a statement this morning that the list includes people who received longer sent says four offenses related to crack cocaine as compared to powder cocaine. Global News twenty four hours a day and whenever you want it with Bloomberg News Now Michael Barr and this is Bloomberg.
Care Ray, Michael Barr, thank you time now for the Bloomberg Sports update, brought to you by Try State Outye. Here's John stash Hour, John, good morning.
Good morning care and the Ranger road trip ended at Utah. Rangers trailed going to the third period, had not won a game all season, went down after two, but they scored three in the third and won five to three. They're four to Zho to two in their last six games. The Devil since winning six to seven, have lost seven of nine. Got a point, but after leading three different times, they fell at Toronto four to three in overtime at Ubs Islanders beaten by Philadelphia five to three. The Capitals won one nothing at Ottawa on an alex Sovechkin goal in overtime. Big NBA game at Oklahoma City. The Thunder lost to the Calves in Cleveland last week, but they won this one one thirty four to one fourteen. OKAC led by thirty eight going to the fourth quarter eight Gilgess Alexander is the favorite right now to the NBA MVP. He scored forty points. Both teams have the same record thirty four and six. Nick Tonight it's Minnesota. The Nets still in La where they just lost to the Clippers by fifty nine. Tonight they faced the Lakers. Australian Open third round wins for Carlos alcaaz Cooco Goff, women's top seed Arena Sabalanka and Novak Djokovic is playing now and he has a two set lead the Mets with a resigning of a free agent. It's not Pete Alonzo, not yet anyway. It's Jesse Winker, who they acquired at the trade deadline. He helped them in their postseason run. Signed for one year, nine million. Bob Uker passed away the voice of his hometown Milwaukee Brewers for fifty four years. Uker had in unspectacular playing career in the nineteen sixties, a lifetime batting average of two hundred he joked about it, and over one hundred appearances on The Tonight Show with Johnny Carson, which led to Miller like commercials, the movie Major League, and the sitcom Mister Belvedere. He was inducted to the Broadcasters Winging the Hall of Fame in two thousand and three.
It's been a great run, but number one has always been baseball for me.
No matter what else I ever did.
Baseball was the only way I wanted to go.
You can, mister Baseball was mauns the actually that we're Bloomberg Sports Karny.
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. I'm Nathan Hager. A ceasefire deal in Gaza may be back on track. Israeli Prime Minister Benjamin Natanyah, who says an agreement has been finalized to pause the fighting with Ikahamas for six weeks and his cabinet is meeting now to vote on it. Joining us from Tel Aviv for the latest Bloomberg News Israel Bureau Chief Ethan Bronner. Ethan, thanks for being back here with us this morning. So how do we expect this vote to go down?
Well, just to be clear, this is the Security Cabinet, that's the inner group of eleven ministers out of thirty something. It will pass there in the process of looking at it now, there will be two votes against it, for sure. These are the too far right ministers mo Church and Ben Vere But I think they're the only ones who are going to vote against it in this cabinet meeting today. Then there will be a subsequent one later today or on Saturday night of the entire cabinet. Also, no reason to expect any problem. And then the expectation now is that the process the very painful and long process of these six weeks will begin on Sunday.
What is the objection from the far right ministers?
The far right is a very upset that the government has, from their perspective, given up on goals that they had said were not to be compromised, that is, to destroy Hamas totally and not to let those who are in Israeli prisons HAMAS members who have killed Israelis out back into circulation. There are hundreds of them will go out, and they will, the right says, and that's not a crazy thought, go back into action and try again to carry out violent acts against Israeli. So for them this is a crazy thing and not worth the return of the hostitgens.
In terms of how the ceasefire is expected to go, what are we expecting? How is it to be enforced?
Well, I mean, I don't know if there's really an important there's no sort of international enforcement measure. But you know, in theory on Sunday when it begins, three hostages and they may be dead or they may be living, we don't know will be returned to Israel. We don't know what time in exchange for some large number of Palestinian prisoners who will be freed. It's thirty for a normal quote unquote Israeli fifty for a female. So therefore I can't give you the exact number that will happen. And then the Israeli troops will start to to move out of Rafach and Gaza City and the northern Gaza area to the outskirts of the strip. And at the same time, through I think several crossings, we'll see hundreds of trucks of food and fuel and medicine and reconstruction materials begin to go in.
And there is a big question of what comes after. You mentioned the objections from the far right ministers, but once the ceasefire is over, there's still going to be a dozens of hostages remaining. So what does come next?
Potentially you think about thirty seconds, okay, So look on the sixteenth day of this deal, they begin to negotiate the second phase, and in theory it's about ending the war and that's something that the far right is opposed to and the sum on the NASO.
Far right are opposed to as well. So the likelihood of breaking down after six weeks is high.
This is Bloombery Daybreak, your morning podcast, and the stories making news from Wall Street to Washington and beyond.
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And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreay