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This is the Bloomberg Daybreak Europe Podcast, available every morning on Apple, Spotify or wherever you listen. It's Monday the 30th of December in London. I'm Stephen Carroll coming up today. Jimmy Carter has died. The former US president and Nobel Peace Prize winner has to weigh at the age of 100. South Korea investigates the worst air crash in the country's history after 179 people are killed.
Plus, Elon Musk reiterates his support for the far-right alternative for Germany party, sparking criticism from politicians and journalists in the country. Let's start with the roundup of our top story. Former U.S. President Jimmy Carter has died at his home in Georgia at the age of 100. During his presidency, Carter brokered a historic peace accord between Israel and Egypt, but faced challenges including high inflation, an oil shortage, and the Iran hostage crisis. Bloomberg's John Tucker takes a look back at his
I'm in office. Jimmy Carter served as state senator and governor of Georgia before becoming the 39th president of the United States. I, Jimmy Carter, do solemnly swear that I will faithfully execute, that I will faithfully execute. Carter's tenure in the Oval Office was tumultuous, marked by inflation, a recession, and an energy crisis. Our dependence on foreign oil will be stopped dead in its tract, right?
Carter encouraged energy conservation by all U.S. citizens and created the Department of Energy. His final year in office was marred by the Iran hostage crisis, which contributed to his loss to Ronald Reagan in 1980. After politics, Carter committed much of his time to peacekeeping and humanitarian efforts, like habitat for humanity. Join us with Habitat for Humanity.
as we rebel homes and lives. Jimmy Carter was the longest retired president and the first to live past the age of 95. John Tucker, Bloomberg Radio. After leaving office, Jimmy Carter founded the Carter Center and was awarded the Nobel Peace Prize in 2002 for his decades-long efforts to promote peace, democracy and human rights. President Joe Biden paid in this tribute.
Just look at his life, his life's work. He worked to eradicate disease, not at home, not just at home, but around the world. He forged peace, advanced civil rights, human rights, promoted free and fair elections around the world. He built housing at homeless for the homeless because it owned hands. And his compassion and moral clarity lifted people up and changed lives and saved lives all over the globe.
President Biden speaking there. Jimmy Carter also lived long enough to fulfill a final wish to cast a ballot for Kamala Harris in this year's presidential election. Meanwhile, President-elect Donald Trump, who often spoke negatively about Carter's presidency during the campaign, also paid tribute to him. Writing on Truth Social, Trump said that Carter did everything in his power to improve the lives of all Americans. For that, he said, we all owe him a debt of gratitude.
South Korean investigators are probing the cause of the country's worst-ever civil aviation accident. 179 people were killed when a Boeing 737 crash landed at Moan International Airport on Sunday morning. Bloomberg's Asia Aviation reporter Danny Lee says the pilot issued a made-eight minutes after the control tower warned of a bird strike.
So the bird strike warning was given to pilots by the airport staff and air traffic control in the minutes before the landing. This is a critical phase of flight for pilots to obviously navigate safely and land. And after this bird strike warning, there was a made equal from the pilots. They had suffered a bird strike and then subsequently minutes later the crash happened.
Danny Lee says investigators will also be focusing on an unusual landing gear failure in the final moments of the flight. The crash killed all but two of the people on board with only a pair of flight attendants surviving. South Korean investigators are seeking an arrest warrant for President Yoon Suk-Yol. The impeached leader has repeatedly defied court summons to appear for questioning over his decision to declare martial law.
Yun has vowed to keep defending himself, insisting the move was within his constitutional powers. Britain's ruling Labour Party would lose nearly 200 seats if elections were held today, according to a new poll. The think tank more in common forecasts the government would suffer a crushing defeat to both the Conservatives and the populist reform UK party based on public sentiment. Bloomberg State's World Cup has more.
It's a signed reform that might have broken through Westminster's two-party system. Nigel Farage's party is predicted to win 72 seats with 21% of the vote if elections were held tomorrow. A note of caution, though, reform was similarly placed in the polls in 2019 but didn't translate that into seats in Parliament. But the numbers are a warning how fragile Stalin's government might be if it can't win over a skeptical public in the next four years. In London, James Wolkok.
Bloomberg radio Elon Musk has doubled down on his support for the far right alternative for Germany party two months ahead of the country's elections. The billionaire and adviser to US President-elect Donald Trump wrote the party was the last spark of hope for Germany in an opinion piece published by a national newspaper.
Three state chapters of the AFD are classified as extremist and are under surveillance by Germany's domestic intelligence service. Musk has extensive business interests in Germany, including a Tesla factory near Berlin. Those are your top stories on the markets. After we saw Wall Street shares finish sharply lower on Friday, the Nasdaq down 1.4%, the S&P 500 den by 1.1% shares in Asia are also
trading lower this morning, the MSCI-ish Pacific Index down by 3.10% in Tokyo, 8.10% of 1% lower with volumes, about 30% lower than normal in Japanese trading this morning. 10-year treasury yields after the spike that we saw last week finishing or rather trading down a basis point at 4.61% today.
In a moment, we'll bring you more on the death of Jimmy Carter, plus the latest on the investigation into that plane crash in South Korea, but a story that caught a ride this morning about Elon Musk's growing influence in US politics and how it's changing the ways that some countries are looking at his starlink internet business. Our colleagues, Bruce Einhorn and Lonnie Prince-Loo has been writing about this in today's big take.
They found that South Africa's presidents are on a poser and Elon Musk have been in contact to discuss ways for the government to change the rules there to allow Starlink's high-speed internet to operate legally. The talks, according to their sources, included discussing investment by Tesla and battery production in South Africa. The sticking point in SpaceX's operation in South Africa has been that it hasn't been prepared to comply with the requirement for 30% black ownership of companies.
But South Africa's communications minister is now talking to the regulator about a workaround that could allow companies like Starlock access to the South African market in return for equity equivalents in terms of investments and jobs. This is an illustration as the piece outlines of a wider trend as well at how many countries are now switching from security concerns about using the network
two attempts where they're trying to attract investment from Elon Musk's complex of companies as well. And indeed, Musk's new role makes it harder for some governments to resist Starlink. The business this year has added 20 new operating countries and now serves more than 4 million people in over 100 countries around the world. We can read more on that on Bloomberg.com and on the terminal.
Well, let's bring him on out on the death of Jimmy Carter. His legacy is U.S. President, including the Camp David Accords in Israel and Egypt, and the establishment of formal ties with China. Arrangements for a State funeral are now underway. The 9th of January has been declared as a day of national mourning in the U.S. Our correspondent Oliver Crook has more on this story for us this morning. Oliver Jimmy Carter died at home in Plains, Georgia, but he'd been on well for some time.
Yeah, that's right. Stephen, you know, after a hundred years, as long as living U.S. President, he'd been in hospice care for some time for almost two years in his sort of hometown plains of Georgia, where his wife had actually died in November of last year. And, you know, for Jimmy Carter, you know, really an interesting figure in American sort of history as a peanut farmer to President of the United States, who had served as governor and Senator of Georgia.
really known, I think, by many to be sort of a man of humility, of sort of high sort of moral conduct. And we heard that in a lot of sort of what we've heard since then, since his death for the sort of outreach that we heard from President Biden, who referred to him as an extraordinary leader, a statesman, a humanitarian who really touched the lives of people around the world. And again, on this issue of sort of compassion and moral clarity. And, you know, President Donald Trump, who has also been very sort of critical of Carter in the past,
came out and also gave a tribute saying that while he strongly disagreed with him philosophically and politically, Trump also realized that he truly love and respected our country and while it stands for and worked hard to make America a better place. And for that, I give him the highest respect. So he's sort of a nice moment of sort of coming together in this sort of fractorous moment of American politics. And there will be public observations, observances held in Atlanta. He also have a full honors of estate funeral in Washington, DC. And as you say, the day of national mourning that will be held now.
on January the 9th with the flags of the United States flying at half mass. When we think about Jimmy Carter's time in office, the Camp David Accords, of course, the signature feature of the Carter presidency, and he had a number of successes in the foreign policy front, which have had a lasting legacy. Yeah, as you mentioned, Stephen, you know, opening up those diplomatic relations with China, but really that crowning achievement of the Carter administration, the Camp David Accords, you know, between Israel and Egypt leading to really peaceful coexistence in a very, very sort of tumultuous time.
period in the sort of Middle East, you know, it didn't, you know, go all the way. Obviously this is a conflict that is still being fought today between Palestine and, you know, Gaza and the West Bank and Israel. But this was sort of the very first step in bringing some stability and some normalization to the region.
and really played the groundwork for some of the sort of later accords that would come, and you know, the one that is sort of sitting on the back burner now, the Abraham Accords. There was also, of course, sort of Iran hostage scandal, which was something that, you know, it was sort of a more difficult period for Carter. And again, also coming into the fore today with the sort of Panama Canal, which of course was built far before Carter, but it was under Carter that this was a renegotiation of the Panama Canal that eventually
led to the canal going from the sort of U.S. administration, going into sort of domestic control by Panama. And this is one of the issues that Donald Trump has really taken in this sort of couple of weeks leading to this inauguration, saying that he really wants to regain, in some way, control over the Panama Canal, actually blaming Carter for giving it away for $1 back in his administration.
Yeah, of course, the parallels from the past to the present there. It was Jimmy Carter's domestic policies, though, particularly on the economy, which led him to lose his real action bid in 1980, Ronald Reagan. Yeah, I mean, even if you're running against Ronald Reagan, running against soaring inflation and low growth and stagflation is really one of these sort of poorest recipes for a president to deal with, and that is exactly the situation that Jimmy Carter found himself in, this sort of oil crisis he did had during that time.
encouraging energy conservation, very famously installed solar water heating panels on the White House, but then lost really in a very notable landslide to Ronald Reagan, where Reagan won almost 500 electoral seats to Carter's about 50.
And really Reagan, he was in that campaign in 1980 that he actually coined the term, the phrase, make America great again. And this is sort of something that obviously we've taken up on the mantle here of Donald Trump and really sort of the sort of the slogan of the Trump presidency. You know, Carter himself, as you mentioned a little bit earlier, Steven, you know, we've managed to vote for Kamala Harris this year at the age of 100. So sort of a remarkable perspective and timeline and life of American politics there.
Okay, Bloomberg correspondent Oliver Crook, thank you.
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Investigators in South Korea are focusing on a bird strike and a landing gear failure as they seek to determine the cause of the plane crash, which killed 179 people. The Jeju Air Flight crashed at Moan International Airport in the south of the country on Sunday morning. Our Asia Aviation reporter Danny Lee joins us now for more. Danny, what information do investigators have to work with at the moment?
Well they have a slew of information including the black boxes but as the authorities have said this critical piece of information you've got the flight data recorder, you've got the cockpit voice recorder, it's the flight data recorder which is partially damaged and there is a little bit of concern about what information they could extract in a timely fashion given what has happened
over the last 24 hours or so and so clearly there is an effort by the authorities to try and understand fairly quickly what has happened but again in these kind of instances it takes time to get to a conclusion of what has happened but we also have
you know, the audio from the pilots to the air traffic controls. And we already know about the warnings of risk of a bird strike before the plane had landed. And then the Mayday call and then the bird strike itself. So there's a lot of things that the authorities have to work within in terms of some of the incidents that happened in the lead up to this. And on top of that, we have this spectacular footage that was captured of the plane
landing on its belly without its landing gear deployed, sliding at high speed off the end of the runway and into an embankment and that devastating collision impact was really the thing that caused 179 people to die in the country's worst ever aviation disaster. What do we know about the plane that was involved in this crash?
Yeah, it's the Boeing 77-800 aircraft. It's the predecessor to the Boeing 77 Max, the aircraft, which, as we now know, has been so maligned in two other fatal crashes, but it's the predecessor and it's widely used really popular aircraft. Over 4,000 of these aircraft are operating around the world.
this kind of event, this crash that happened on Sunday is an unusual one. It's a rare one of that, particularly when you think about how bird strikes typically do not bring down an aircraft. And so with this kind of accident, the authorities will need to figure out, was it the bird strike? Was it a cascade of events that may have brought down this aircraft or the action of the pilots? There's a lot that will need to be understood over a fairly short space of time.
And South Korean authorities are now looking at all of the Boeing 737 models of this type operating in the country. What does that mean for the plane maker?
Yeah, I think for the plane maker it shouldn't be too much cause for concern but really it's a response from the authorities to try and demonstrate to the public that they are getting on top of this situation. They are trying to reassure the flying public and so with the inspection these checks of all 77-800 models which are the fact all airlines in the country so that's
101 of these aircraft type. We are trying to understand what does that actually mean in terms of the checks which will last a few days here, whether that means the authorities are ordering, for example, the grounding of all of these aircraft types, which would be hugely disruptive.
So this remains to be seen of this investigation or checks of all of these other aircraft types. And obviously this comes in light of what happened in Seoul this morning of another Jeju Air 77, the same type of plane involved, which departed from Seoul Gimpo Airport, and then also experienced a landing issue, the airline confirmed.
This is Bloomberg Daybreak Europe. Your morning brief on the stories making news from London to Wall Street and beyond. Look for us on your podcast feed every morning on Apple, Spotify and anywhere else you get your podcast. You can also listen live each morning on London DAB Radio, the Bloomberg Business App and Bloomberg.com.
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Not everybody likes talking about money. Some people find it awkward. Sometimes they even find it a little embarrassing. I do not. I like talking about money. Whether it's the boardroom, the newsroom, the trading floor. I've spent the last 30 years talking about money, writing about money and talking about it and writing about it a little bit more. Imagine something's at work and every week senior aboard a John Steppock and I answer your questions about personal finance and we discuss the best strategies for making the most of your money.
Listen up for the kind of insights and explanations everyone can use to help them make better saving and investment choices for themselves and their families. My question is whether you think maxing out my comfy pension match is enough for when it comes to saving for my pension. Should I attempt to pay my Charles University fees and living costs?
My partner and I have excess savings, so should we overpay on our mortgage, or should we put the money in to stocks? From Bloomberg Podcasts, June into Merrittox Money, follow Merrittox Money on Apple Podcasts, or to buy or wherever you listen.
