December 10, 2024: Biden Steel Plans, Trump Cabinet Additions, More

Published Dec 11, 2024, 4:44 AM

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News when you want it with Bloomberg News Now, I'm Doug Krisner. President Biden is planning to block the sale of US steal to Japan's Knee Pond Steel on national security grounds. The Committee on Foreign Investment in the US has been reviewing this fourteen point one billion dollar takeover for much of the year. We are told a formal decision will be made once the deal is referred back to the President later this month. We got reaction from Bloomberg's Joe Doe.

There was still some hope in this deal. I mean, I think an important bit that we pointed out in our story is that we have sources familiar saying that both companies are prepared for litigation if this thing gets officially officially officially blocked. So that could also be something you can hang your hat on that the deal isn't dead.

That is Bloomberg's Joe Doe shares in the US deal. We're down nearly ten percent in the regular session. A federal judge has blocked Kroger's acquisition of Albertson's. The judge found the takeover with lessen competition for US grocery shoppers. Here's Bloomberg analyst Jennifer Ree.

You know, based on what we've seen with other decisions in cases like this, it really should have come out in October and November. So this was a late decision.

We expected it earlier.

So I don't really think it had to do with the next administration coming in, that.

Is, Bloomberg Senior litigation analyst Jennifer Ree. Now, Kroger had offered twenty four point six billion dollars for Albertson's in what would have been the largest US grosser merger. Ever, today's ruling marks a likely end to that deal. The Biden administration is considering some new sanctions on Russia's oil trade. The aim here is to tighten the squeeze on the Kremlin's war machine. We are told the potential measures could target Russian oil exports, with a focus on foreign buyers of its crude oil and restrictions on the tanker fleet that Russia uses to transport its oil. President elect Trump has chosen Tom Barrick to be US Ambassador to Turkey. Barrick is the founder of Colony Capital, and at the same time, the President elect will nominate Ronald Johnson to serve as US Ambassador to Mexico. That's according to a post on Truth Social. Johnson served as US Ambassador to El Salvador during Trump's first term. President elect Trump is replacing Lena Kahn as chair of the FTC with Andrew Ferguson. Ferguson is well known in Republican circles. He previously did stints as chief counsel for Senate Minority Leader Mitch McConnell and Senator Lindsey Graham. Ferguson will not need Senate confirmation since he's already on the FTC. Earlier today, President Electrump said his administration will help expedite permits for any person or company that invest at least a billion dollars in the US. We have more from Bloomberg's Charlie Pellett.

In a post on his truth Social network, The President elects said quote get ready to rock. He says, any person or company investing one billion dollars or more in the US will receive fully expedited approvals and permits, including, but in no way limited to, all in environmental approvals. Trump did not immediately detail what steps his administration would take to help investors secure permits to fast track projects, and any such effort is likely to face hurdles at the state and local levels in New York. Charlie Pellett's Bloomberg Radio.

Now the latest on the killing of United Health Group executive Brian Thompson. The suspect in this fatal shooting, is fighting extradition from Pennsylvania to New York, where he faces a second degree murdered charge. In a court hearing on Tuesday in Pennsylvania, the lawyer for Luigi Mangoni said his client will contest any request for extradition to New York. Defense attorney Thomas Dicky spoke with reporters Tuesday evening.

I haven't seen any evidence that says that he's the shooter. So that's like I said earlier, and I wasn't kidding around a couple of things. If you're going to report something, report accurately, and remember, and this is not just a small thing. The fundamental concept of American justice as a resumption of innocent and until your gilt to be onreason doubt. And I've seen zero evidence at this point.

That's Thomas Dickey, defense attorney for Luigi Mangoni, whose extradition fight could take weeks in Technology News, Apple is planning to add satellite connectivity to its Apple Watch Ultra in twenty twenty five. This will allow users to send text via satellite when they don't have either cellular or Wi Fi service. Here is Bloomberg's Mark German.

The Apple Watch Ultra. It's an eight hundred dollars smart watch that competes with Garman. It's geared towards hikers, adventures athletes, the type of people who may want to use their Apple Watch on a hike right and leave their iPhone behind. And so now they'll be able to tap into that satellite infrastructure in order to stay in contact with both emergency services, family and friends while on that hike, thanks to that Global Star network that Apple has partnered with.

That is Bloomberg's Mark Germa. Now, Apple, we are told, is also ramping up work on a blood pressure feature for the Watch Ultra. And that is news when you want it with Bloomberg News. Now I'm deg prisoner and this is Bloomberg.

Mm hmm