Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

On today's podcast:

1) More tensions between the U.S. and China as President Trump says Xi Jinping is extremely hard to make a deal with. Tensions between the two countries are increasing, with the US recently barring the shipping of critical jet engine parts to China and seeking to slap fresh curbs on Huawei Technologies Co. chips, among other measures.

2) Elon Musk blasts the president's tax cut bill, calling it an "abomination." Musk's criticism was met with responses from White House Press Secretary Karoline Leavitt, who brushed it off, and Senator Mike Lee, who appeared to endorse Musk's criticism. The tax bill is forecast to bring down federal revenue by about $4 trillion over a decade, adding about $2.5 trillion to the federal deficit over the period.

3) Wells Fargo finally gets out from under the Fed's cap on its assets. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

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Episoder(1626)

Fed Served With DOJ Subpoenas; Iran Says Protests Quelled After Hundreds Reported Killed

Fed Served With DOJ Subpoenas; Iran Says Protests Quelled After Hundreds Reported Killed

On today's podcast:1) Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escala...

12 Jan 20min

Daybreak Weekend: Bank Earnings, UK Property Market, China Trade

Daybreak Weekend: Bank Earnings, UK Property Market, China Trade

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI data and bank earnings. In the UK – a lo...

9 Jan 39min

Walz Clashes With Noem Over ICE Shooting Probe; Trump’s Tariffs Face Supreme Court Test

Walz Clashes With Noem Over ICE Shooting Probe; Trump’s Tariffs Face Supreme Court Test

On today's podcast:1) The investigation into the killing of a US citizen by an ICE agent in Minneapolis this week is being complicated by clashes between federal and local officials, with the FBI taki...

9 Jan 15min

ICE Minneapolis Shooting Sparks Anger; US Seizes Two More Tankers in Venezuela Campaign

ICE Minneapolis Shooting Sparks Anger; US Seizes Two More Tankers in Venezuela Campaign

On today's podcast:1) An Immigration and Customs Enforcement officer fatally shot a woman during a confrontation in Minneapolis, sparking an uproar over the presence of ICE agents in the city and heig...

8 Jan 15min

Trump Says Venezuela to Send Up to $2.8 BN of Oil; US Won’t Rule Out Military Force to Acquire Greenland

Trump Says Venezuela to Send Up to $2.8 BN of Oil; US Won’t Rule Out Military Force to Acquire Greenland

On today's podcast:1) President Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes wou...

7 Jan 15min

Maduro Pleads Not Guilty; Venezuela Regroups With New Leader

Maduro Pleads Not Guilty; Venezuela Regroups With New Leader

On today's podcast:1) Ousted Venezuela President Nicolás Maduro pleaded not guilty on Monday to US charges in a narco-terrorism case against him, kicking off an extraordinary legal battle with major g...

6 Jan 15min

Commodities in Flux After US Captures Venezuela’s Maduro

Commodities in Flux After US Captures Venezuela’s Maduro

On today's podcast:1) President Trump said the US needs “total access” to Venezuela as questions mount about the country’s leadership following the capture of President Nicolás Maduro. Delcy Rodríguez...

5 Jan 20min

Instant Reaction: Trump Says US to ‘Run Venezuela’ in Interim After Maduro

Instant Reaction: Trump Says US to ‘Run Venezuela’ in Interim After Maduro

President Donald Trump said the US would run Venezuela until a transition could be organized, hours after a US operation captured leader Nicolás Maduro, ousting the strongman from power after months o...

3 Jan 22min

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