Legacy technology has IT and cybersecurity teams feeling overwhelmed. Research shows that 59% of security decision makers feel unprepared for the future with their current tools. What can they do to stand on firmer ground? Learn more later in the podcast.
The forces shaping markets and the economy are often hiding behind a blur of numbers. So that's why we created The Big Take from Bloomberg Podcasts to give you the context you need to make sense of it all. Every day, in just 15 minutes, we dive into one global business story that matters. You'll hear from Bloomberg journalists like Matt Levine. A lot of this meme stock stuff is, I think, embarrassing to the SEC. Follow The Big Take podcast on the iHeartRadio app, Apple Podcasts, or wherever you listen.
Bloomberg Audio Studios. 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 Russia-Ukraine war. Reuters is reporting Vladimir Putin is willing to talk with President-elect Donald Trump about a ceasefire deal in Ukraine that could roughly freeze the war along current front lines. We get more from Bloomberg's Oliver Crook.
There's room for negotiation over carve-outs over the four regions of Donetsk, Luhan, Separigia, and Karazan. And then we also know that they're open to withdrawing potentially. So this is the Russian talking about potentially withdrawing from small patches of territory in other parts of Ukraine. Now, another point that he will insist on Putin will insist on is that Ukraine abandon his ambitions to join NATO.
Again, this is potentially closer to a wish list from what the Russian side wants, but it is significant because if it is accurate, this is some of the first sort of concrete sketches we have heard from the Russian point and potentially a sort of opening negotiation discussion.
Bloomberg's Ali Crook says President Biden's decision to allow Ukraine to use long-range missiles inside Russia could complicate any settlement. In another development, Bloomberg News has learned the U.S. has decided to provide Ukraine with anti-personnel landmines to blunt the advance of Russian troops.
Meanwhile, Nathan, the U.S. Embassy in Kyiv says it's received warning of a potentially significant Russian air attack and would be closed as a precaution. The embassy also instructed employees to shelter in place and also recommended that U.S. citizens in Kyiv be prepared to immediately shelter in the event of an air alert.
And Karen, all this comes on the heels of the final day of the G20 summit in Rio de Janeiro. The meeting was marked by tension and this unity. Leaders failed to agree on language, characterizing the wars in Ukraine and the Middle East. The summit was also overshadowed by the looming return of Donald Trump to the White House. Diplomats are wondering what kind of role the US will play in world affairs under his leadership. Bloomberg's Ross Matheson has more from London.
Seems like this meeting was particularly chaotic as well. We had that weirdness over the family photo where three of the leaders missed it. It had to be redone in a different setting a day later, which was all a bit awkward. And it just seems to reflect the fact there was a lot going on behind the scenes in terms of disagreements and arguments over the war in Ukraine, but also
the conflict in the Middle East, and more than anything, hanging over at the sense of the fact that Donald Trump's returning to the White House and what that means for these leaders and for the rest of the world. Bloomberg's Rosalind Matheson says the summit was billed as a moment for the West and the rest to show unity, but it's served to show how quickly the guardrails are coming off the International Rules Base Order.
All right, Nathan, now let's get to the latest on the Trump transition. President-elect Trump has added three more big names to his cabinet. He's tapped candor Fitzgerald, CEO Howard Lutnik, his commerce secretary after taking him out of the running for Treasury. Linda McMahon, the former world wrestling entertainment CEO and small business administrator in the first Trump administration, is Trump's choice to leave the education department.
and Trump has named a Mematize, the celebrity doctor, to lead the Centers for Medicare and Medicaid Services. We get more on that pick with Bloomberg's Wendy Benjaminson in Washington. He was a professor of medicine at Columbia University, but he has spent a good deal of his career in the last 10 years promoting, you know, sort of fringe, fringe medical things, a lot of wellness stuff that isn't quite, you know, on the beam with a lot of the medical community.
As for the Treasury choice, Karen, President-elect Trump's working to get that back on track. Sources tell Bloomberg News he's holding interviews today with two top contenders. Former Fed Governor Kevin Walsh and Apollo Global Management CEO Mark Rowan. Another potential candidate, Tennessee Senator Bill Hagerty, spent much of yesterday with Trump. Key Square Group founder Scott Besant is also in the running for Treasury.
On 8-0 tree, Capitol management co-founder Howard Marks is weighing in on the upcoming Trump presidency. He spoke with Bloomberg Television in Asia. Number one, what's going to happen? Nobody knows. His appointments are not firm. They have yet to be confirmed. His policies are not known. What is he going to do? Nobody really knows what he's going to do.
Number two, what else will be going on in the world? He's not the only show. It's complicated. Number three, how will the market react to all these things? Number four, the president's influence on most things is usually quite limited.
While Oaktree Capital Management co-founder Howard Marks says U.S. stocks are on the high side relative to history. He wasn't overly bearish on U.S. assets. And in another political development, Karen San Francisco Mayor London Breed has lost her reelection race to Levi Strauss Air Daniel Lurie, the Associated Press, called the race yesterday.
of London Bridge re-election campaign. Well Nathan, now let's turn to another historic moment for SpaceX.
The company successfully conducted its sixth Starship test flight yesterday in South Texas with the Starship successfully reigniting an engine in space for the very first time. SpaceX hopes the powerful rocket can eventually carry humans and cargo to Earth's orbit, the moon, and even Mars. It did abort the second test of its booster catch, however, citing safety concerns.
We did not attempt a return to the launch site and catch attempt today when strict criteria were not met. And the super heavy booster executed a planned divert to a landing burn and soft splashdown in the Gulf of Mexico. Standing alongside SpaceX founder Elon Musk at the test launch in Brownsville, Texas, President-elect Trump and other Republican allies, including Texas Senator Ted Cruz.
Let's turn back to markets now, Karen, for what may be the most highly anticipated earnings report of the year. NVIDIA comes out with its latest results after today's closing bell and Bloomberg's Tom Busby has more on what to expect. NVIDIA, the final member of the Magnificent Seven Tech Giants and the world's most valuable company poised to deliver another blowout earnings report on
In satiable demand for its artificial intelligence chips. The question for investors can Nvidia ramp up supplies of its latest GPUs, the Blackwell line after a series of manufacturing setbacks. Bloomberg consensus calls for revenue of $33.25 billion, suggested earnings per share of 74 cents. Tom Busby, Bloomberg Radio.
All right, Tom, thank you. In Europe, UK inflation accelerated more than forecast in October to well above the Bank of England's 2% target. Consumer price inflation rose 2.3% from 1.7% in September. The figures are likely to lead to a conscious approach from the Bank of England, reducing the prospect of further interest rate cuts in the coming months.
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 John Tucker, John Good morning. Good morning, Karen. A House panel meets today to consider releasing results of an investigation into the former Congressman Matt Gates, President-elect Donald Trump's pick for Attorney General. The meeting comes after a woman reportedly told the Ethics Committee she had sexual relations with Gates when she was 17 years old.
New York's first destination congestion pricing for people driving on Manhattan's traffic clock streets faces a legal threat that could now kill it. More from Bloomberg's Gina Cervetti. Under the plan to ease congestion and pollution starting on January 5th, most drivers will pay $9 to enter the tolling zone.
But if a judge agrees with New Jersey Governor Phil Murphy that the plan must undergo additional federal environmental review, that would almost certainly push the start date into the administration of President-elect Donald Trump, who opposes congestion pricing. Trump, who is to be inaugurated on January 20, could simply direct the federal highway administration not to sign off on the revised program. Gina Cervetti, Bloomberg Radio.
Firefighters extinguish a fast-growing brush fire. An upper man happened that briefly blocked traffic as a deepening drought feeds hundreds of blazes across the region. The blaze broke out of the Washington Heights neighborhood. Nobody was hurt. The fire came one day after New York officials instituted a drought warning.
The FDA says an inspection of a toms of main facility in Sanford, Maine turned up several violations, including bacteria and water used to make toothpaste and a black mold-like substance near manufacturing equipment. Global news 24 hours a day. And whenever you want it with Bloomberg News Now, I'm John Tucker. This is Bloomberg, Nathan Karen.
As criminal ransomware and state-sponsored attacks continue to escalate, a bolted-on approach to cybersecurity isn't cutting it. In fact, the more security tools an organization uses, the more security incidents it has. According to new research from Google, companies that use 10 or more security tools average 14 incidents per year. That's more than double the amount for those that use fewer than 10 tools.
To proactively manage cyber attacks, organizations should invest in productivity tools across email, documents, and video conferencing that are secure by design, hopping off the treadmill of software patching and lightning the load on their embattled IT and cybersecurity teams. To learn more, visit g.co slash workspace slash more secure.
We just lived through a truly wild presidential race, hitting a Democrat who wasn't on the ballot until June and a Republican who was convicted on 34 felony counts just before receiving his party's nomination for president. But the wildest thing might have been this guy.
You're just signing something you already believe and you can win a million dollars. That's awesome. I'm Max Chafkin and this is Citizen Elon, a three-part series from Elon Inc. where we investigate Elon Musk's unprecedented support for Donald Trump. Follow Elon Inc. on Apple Podcasts or wherever you'd like to listen.
Time now for the Bloomberg Sports Update brought to you by Tri-State Audi. Here's John Stash, Howard John. Good morning. Good morning, Karen. We'll see after the season if the Giants shake things up. But we now know there will be new faces coaching and running the Jets. Six weeks after the firing of coach Rob Salad, general manager Joe Douglas shown the door.
Phil Savage, the former Cleveland GM, who'd been working as a Jets advisor, takes over on an interim basis. Douglas was in his sixth season on the job in the Jets record during his time. 30 and 64 brought in some good players. His biggest blunder was drafting quarterback Zach Wilson's second overall back in 2021.
Ranger road trips so far. Two games, two wins in Vancouver. Chris Cryder's goal midway to the third period gave the blue shirts of four three victory Islanders also in Western Canada. They lost to one in the shootout in Calgary. The Nets after two weekend road losses to the Knicks. Packet Barkley is able to top Charlotte 1 16 1 15 cam Johnson 34 points Cleveland brought its 15 0 record to Boston. Trail the defending NBA champs by 21. Cut the deficit to two in the fourth quarter.
before the Celtics hung on 1 20 to 1 17. Donovan Mitchell then reflected on the Cavs. Shockingly strong start. You know when you're you're playing basketball good basketball and obviously winning games where there's blowouts close games come from behind wins. You know you enjoy these moments and for us. You know it's great to be part of history. We wish we'd have kept it going. But like I said there's no championships in November. This is a great part of the season. Now we just continue not. We're not losing two in a row. Let's go start a five game road trip tonight.
Phoenix, managers of the year, both winners in their first year on the job. Cleveland, Steven Vogue, Milwaukee's Pat Murphy, the Mets Carlos Mendoza, finished third. The Mets have added an outfielder, acquired in a trade with Tampa Bay, Jose Siri. He hit only 187 last season, but he's very good defensively. In Spain, an emotional final match of 38-year-old Raphael DeDal's career. 22-time Grand Slam winner, lost in straight sets in Spain's Davis Cup match with the Netherlands. John Stashan, we're Bloomberg, sports camera, Nathan.
coast to coast on Bloomberg Radio nationwide on SiriusXM and around the world on Bloomberg.com and the Bloomberg Business app. This is Bloomberg Daybreak. The main story this morning is on developments in the Russia-Ukraine war Reuters is reporting that Russia is willing to talk with President-elect Donald Trump about
a ceasefire deal with Ukraine. That's after President Biden authorized Kiev to use long-range missiles to strike deeper inside Russia. Ukraine's ambassador to the European Union, Sevilla Jensov says that is what's bringing Putin to the table. It shows that it works. So if you talk to him with a position from strands, so they're more ready for a conversation.
Ukrainian EU ambassador, Sevilla Chensov, spoke with Bloomberg this morning, and we are joined now by Bloomberg's Kevin White Law. And Kevin, we've heard the Kremlin respond to this writer's report saying that Russia's always been willing to talk with Ukraine, but a freeze wouldn't serve Russia's interests. What to make of this latest report that Putin is willing to talk, at least with President-elect Trump?
Yeah, I think we need to take this with a whole bunch of caveats. Obviously, you know, I think Putin is at this point pretty happy to have anyone in the West engage with him. But it's not clear that he's going to actually give them anything or at a situation where if you look at this, what's been happening on the ground.
Ukraine has sort of been very, very, very slowly losing, and Russia is very, very, very slowly gaining. And so it's in a place where it's not clear that Putin has the interest or the imperative to really negotiate. And Ukraine would like to get to a position where it can, as the ambassador was saying, negotiate from a position of strength.
to the degree that Donald Trump is going to come in and potentially prompt or start or force some kind of a ceasefire conversation right now. I think Russia probably feels it has a little bit of an upper hand and Ukraine is trying to figure out how it can regain that. One of the many reasons it was so interested in being able to carry out strikes into Russia using these U.S. long-range missiles.
We've also seen not just the long-range missile strike for the first time, but reports now that President Biden is authorizing Ukraine to use short-term landmines as well. What could that mean for a potential negotiation once President Biden is off the scene?
I mean, at this point, Biden is trying to pull out just the remaining little stops to try to put Ukraine in as strong a position as possible for when Trump takes office. He's sort of running out of things to do. Long-range missiles was probably the most important as far as Ukraine was concerned, but the rules are coming with some limitations that are restricting some of what Ukraine was hoping to use them for.
So obviously Russia has been able to strike into Ukraine with a decent amount of success, particularly when it comes to targeting the electrical grid. Ukraine really wants to find ways it can try to make it, you know, sort of damage the ammunition stocks and some of these operating bases that Russia has been using to stage these things.
unclear whether they're going to be able to really change the dynamic on the ground. And I think if Russia feels it is very, very, very slowly winning, it's been able to bring in reinforcement troops from North Korea. It's getting weapons from other countries. It might feel that it doesn't have quite as much of an incentive to give Ukraine a whole lot in a negotiation.
which is why everyone's going to be focused on just what Donald Trump is going to bring to the table and whether he's going to try to force Ukraine to accept the kind of deal that it just up to now has just been simply unwilling to consider.
And all this is coming, Kevin, in the backdrop of a G20 summit that saw a lot of disagreement over even how to characterize the war in Ukraine. In our last minute, where could things go as we continue to work through this transition? Yeah, well, it is a transition. It's a transition in several different countries. You've got, you know, in Germany, effectively, a lame-docked chancellor with snap elections coming in February. You've got the French president Emmanuel Macron.
distracted by some of his own issues. So you definitely have a Europe that has to see if at a time where some of its normal leadership voices are maybe not as fully engaged on this issue, can they really find some way to step up if the US walks away?
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m. Eastern each morning on Apple Spotify or anywhere else you listen. You can also listen live each morning starting at 5 a.m. Wall Street time on Bloomberg 11 3 0 in New York Bloomberg 99 1 in Washington Bloomberg 929 in Boston and nationwide on Sirius XM channel 121.
Plus, listen coast to coast on the Bloomberg Business app now with Apple CarPlay and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now and your favorite podcast platform to stay informed all day long. I'm Karen Moscow. And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.
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