Bloomberg Daybreak: US Edition

On today's podcast:

1) Israel is coming under increasing pressure to agree to an extension of a four-day pause in its war with Hamas. President Joe Biden said he supports prolonging the cease-fire, which is due to end on Tuesday morning and part of a deal to free hostages held by Hamas in Gaza. The halt in fighting is “critically needed” for additional aid to get into the territory and for more captives to be freed.

2) Rishi Sunak said he condemns antisemitism “in all its forms,” in a careful criticism of Elon Musk that stopped short of the full-throated condemnation by US President Joe Biden and others who have accused the tech entrepreneur of amplifying anti-Jewish hatred on his X social media platform.

3) Black Friday shoppers spent a record $9.8 billion online in the US, Adobe Analytics reported, offering a positive sign for retailers facing lackluster sales forecasts for the holiday season. 

Full transcript: 

Good morning. I'm Nathan Hager and I'm Amy Morris. Here are the stories we're following today. First, the latest developments out of the Middle East. Israel and Hamas are signaling that a temporary ceasefire could be extended beyond today. Under the current agreement, Hamas is releasing fifty hostages in exchange for one hundred and fifty Israeli held prisoners. President Biden says he's aiming for this break in fighting to continue. Critically, nay, today is going in and hostages are coming out, and there's still structured so that it can be extended to keep building on these results. That's my goal, that's our goal, to keep this pause going beyond tomorrow. When President Biden spoke yesterday with Israeli Prime Minister Benjamin Netanyahu, who signaled an extension was possible. Meanwhile, Israel is coming under increasing pressure to agree to an extension of a four day pause in it's war with Amas. We get more from Bloomberg's Simon Marx and Tel Aviv. Israel is under some pressure to continue to slow drip releasing hostages. There is still a lot of public pressure here to get many more released, and the families and the victims of the hostage families are still very active. Bloomberg. Simon mar says, so far Hamas has handed over fifty eight hostages, including non Israelis. It is slated to free another eleven Israelis today to fulfill the four day Agreement. And in Washington, the issue of Israeli aid maybe getting more complicated. Bloomberg zed Baxter has that story. Senator Chris Murphy is saying lawmakers should consider conditioning future aid to Israel based on compliance with international humanitarian law. I think there's both a moral cost to this, many civilians, innocent civilians, children often losing their life, but I think there's a strategic cost. Ultimately, Hamas will get stronger, not weaker, in the long run if all of this civilian death allows them to recruit more effectively, enablely inside Gaza. Murphy on CNN civilian death toll must stop, ed Baxter Bloomberg Radio, Thanks D. Another complicating factor in aid to Israel and Ukraine is a dispute over security at the southern border. Republicans in Congress want to tie foreign military assistance to tougher border policies. On NBC's Meet the Press House Intelligence Chair Mike Turner said it will be tough to pass the AID before the end of this year. While the issue remains unresolved. Man Amy events in the Middle East may be forcing President Biden to skip an event he's attended the past two years. According to The New York Times, a White House official says the President will not be at the COP twenty eighth Climate summit in Dubai. The official didn't say why, but senior aids are suggesting the Israel Hamas war has consumed the president in recent weeks. Meanwhile, Elon Musk will today meet with the Israel with Israel's Prime Minister and president, as well as representatives of the families of hostages held in Gaza. The closed door meeting appears to be an effort to diffuse a growing backlash over the billionaire's endorsement of an anti Semitic tweet. While Musk has drawn support from notable figures including hedge fund manager Bill Ackman, others, including British Prime Minister Rishi Sunek, say that Tesla and SpaceX chief should not be given a pass because of who he is. I don't tend to get in the business of scrutinizing what every single person says who I've interacted with. Of course I bore anti Semitism. It doesn't matter whether you're Elil Musk or you or someone on the street who's shouting abuse that someone who happens to be walking past you. That's wrong in all its forms. Antisemitism in all its forms is completely and utterly wrong. So next careful criticism comes just weeks after the British Prime Minister had a fireside conversation with Musk at the UKAI summit. Turning to markets, amy stocks are going higher. That's the call from Deutsche Bank. The firm's strategists, including Binkie Chata, predict the S and P five hundred will rally to a record fifty one hundred by the end of next year. That's about twelve percent above current levels. Chata says stock valuations are not high and earnings are growing solidly. Meanwhile, Wall Street it returns to work with lots of economic data and plenty of earnings reports. We get a preview from Bloomberg's Charlie Pellett. Tech earnings will be in focus this week, with z Scaler and crowd Strike holdings underscoring how businesses are prioritizing cybersecurity after recent high profile corporate hacks. Among the other technology companies reporting this week Salesforce and Dell. In New York Charlie Pellette Bloomberg Radio. Okay, Charlie, thanks for also keeping an eye on retailers today. Well, because it's cyber Monday. The huge online spending day comes after shoppers spend a record online on Black Friday. More on that from Bloomberg's Eddie vendor Wald. What we're seeing is that US consumers spend a record nine point one billion dollars online. That's according to Adobe Analytics. It's a record so far. But we're seeing two interesting trends. Number One, a lot of people are spending on buy now, pay later, and we are seeing them buying less luxury items with this spending. So it feels like the consumer is starting to feel the pitch and rather than going out spending big money is saying, look, this might be a good opportunity to start cutting back out of spending. Bloomberg's Eddie vander Walt says global Black Friday sales rose twenty two percent, led by clothing, personal care, and jewelry. The owner of TikTok is cutting jobs. Bye Dance plans to eliminate hundreds of positions in gaming and wind down at Showpee s brand Uverse. The closure marks by Dan's biggest retreat from a once booming gaming industry dominated by ten Cent and at smaller faux net Ease. Sources say the Chinese company intends to announce the cuts later today. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's John Tucker. Good morning Job, Hey, Good morning Amy. The US is investigating whether Iran was behind an incident in which missiles were fired near the Navy destroy USS Mason. The Mason intervene to stop the hijacking of a commercial cargo ship by pirates in the Gulf of Aidenere, Somalia on Sunday, after which two ballistic missiles were fired from Yemen tour the Navy destroyer. The ballistic missiles were fired from the part of Yemen controlled by Iranian backed Hutu rebels. They fell well short of the mark. We could be looking at a shakeup in the battery industry that's critical for the energy transition battery giants are starting to put their money on a new sodium based technology. Let's get more in this report from Bloomberg's Denise Pellegrini. Sodium from rock salt and brines is cheaper and way more abundant than the lithium widely used now in batteries. But in the past week alone, Sweden's Northfold said it made a breakthrough, and China's ev maker BYD signed a deal to build a one point four billion dollar sodium ion battery plant. Also, China's coatl said back in April at sodium based batteries would be used in some vehicles starting this year. This could all hit lithium demand Hardloomberg GETTYF has said sodium could cut hundreds of thousands of tons of lithium demand by twenty thirty five. Denise Pellegridy Bloomberg Radio. This post Thanksgiving travel rush could be won for the books. American Airlines said that it flew six and a half million customers over the holiday, the highest ever for the airline. Of this traveler at New York Liberty Airport spoke for many I travel from California to New York back and forth all the time. I have never had this much of a weight. I don't know why. American says it had more than sixty one hundred departures Sunday and expects about six thousand flights today. The Biden administration today will announce a redoubling it measures to strengthen supply chains. It's creating a new White House Council on Supply Chain Resilience. The council will conduct a supply chain review mirroring similar strategic documents prepared for National Defense at Homeland Security. Global News twenty four hours a day and whenever you wanted with Bloomberg News Now. I'm John Tucker and this is Bloomberg Amy. All right, thank you, John. We bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule, and you can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for our Bloomberg Sports Update and for that, we bring in John stash hour Amy. The game of the day was in Philadelphia. The Eagles trailed Buffalo by ten points in the fourth quarter, trailed by three with twenty seconds to go when Jake Elliott tied the game with a fifty nine yard field goal. Philly also trailed in overtime, but Jalen Hurt scored a touchdown and the Eagles beat the Bills thirty seven to thirty. Fourth. Philly is ten and one. The Bill's having a disappointing season at six and six. The Patriots having a really disappointing season. They are two to nine. Lost to the Giants ten to seven when Chad Ryland missed a thirty five yard field goal with three seconds to go. Ravens last night improved to nine and three. They beat the Chargers twenty to ten. The Steelers are seven and four, all seven wins by seven points or less. They've been outscored on the season, but Pittsburgh able to win at Cincinnati sixteen to ten. Bengals played without the injured quarterback Joe Burrow. Carolina dropped a one in ten, lost to Tennessee seventeen to ten. Indianapolis Street Tampa Bay twenty seven to twenty Michael Pittman had over one hundred yards in receptions. Two SEC schools with new football coaches at Texas A and m it's Mike Elko. He had been at Duke the last two years and the previous to that he was the Aggies defensive coordinator. Mississippi State's new coaches Jeff Levy, he had been the offensive cornator head Oklahoma. Another f one win for Max first staff and that's nineteen out of twenty two races. That's the most ever. Celtics still on beating at home. They beat the Hawks one thirteen to one of three. Jason Tatum score thirty four. Johns dash that We're Bloomberg Sport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Today is scheduled to be the final full day of a four day truce between Israel and Hamas, but after the release of dozens of hostages from Gaza, including a four year old American Israeli girl. Both sides are now signaling this pause could be extended. And for the latest, we're joined from Tel Aviv by Bloomberg News reporter Simon Marx. Simon, good morning. What is the likelihood that we could see an extension given the number of hostages that have been released so far? Well, so far, the chances of this taking place seem to be making some good progress. Hamas has released a statement saying that in theory they would have greed to an extension, and Israel, for the whole way along this current truce, has said that it would be open to further days, So we're talking about ten per day for up to ten days. You know, diplomats in the city do expect that we will see one or two more days. It's a little unclear whether we're going to get to the full ten. But there is obviously a lot of pressure on the government of Benjamin Netta and Yahoo to continue the release of the hostages, with the families still campaigning and very vocal on this front. Yeah, that's happening on the outside. Talk a little bit more about as well, the behind the scenes pressure that's happening with Israel and Hamas to potentially secure a further ceasefire. Yeah. I think the main reason for this is that the international community would like to see more aid get into Gaza. Obviously, the strip has been pounded for weeks now, there's still at least one hundred thousand people in the north with very very limited access to any form of humanitarian care, and then in the south you've got over a million displaced people in you know, really devastating conditions. So there were two hundred trucks that managed to get over the border from Egypt on Sunday. There's been about two thousand in total. But the hope is is that increases a lot a lot more in the coming days. What's the feeling about whether there is enough aid going in right now and whether that aid could potentially be used to support Hamas. There has to still be that concern among the Israelis, right, Yeah, of course, And you know, this is part of the reason why the bureaucracy around getting trucks in, the checks and balances from the Israelis were so stern and and it's also part of the reason why getting aid in was actually difficult in the beginning. That it does seem in recent days to have opened up. There is this notion that, you know, if Israel is to continue its ground offensive against Hamas, that in return, they cannot be seen to be blocking eight you know, and flouting international humanitarian law. But yes, I mean Hamas fighters are spread throughout the Gaza Strip, and many people seem to think that they have a presence in the south too, where there are a lot of civilians. And that factors into a lot of the commentary that we're hearing from a particularly congressional Democrats in Washington, d C. That future aid to Israel might need to be conditioned on international humanitarian law being followed more stringently. How is that potentially factoring in to Israel's decision making when it comes to extending the pause in fighting or carrying on this war even further once whenever the pause ends, it does end well very much. So. Israel are extremely dependent on diplomatic and material support from the United States. Without that, I think, you know that the pressure for them to stop this war is going to mount. So far, we've seen a lot of pressure from Biden's administration to make sure Israel do allowed aid in, but there hasn't been you know, a stringent call for any longer term ceasefire. So it does seem that this green light essentially for Israel to go back in to the Gaza Strip once this truce comes to an end, is very much there, even though perhaps in some other corners of the world, particularly the Gulf and parts of Europe, obviously the pressure is mounting. But yeah, as we all know, the main bidder here is the United States. And as this pause continues, Simon, are there risks of other fronts opening while the pause goes on. I mean there's been sporadic fighting that we've been reporting on in the West Bank, as well as the back and forth over the Israeli Lebanon border. Yes, definitely. As you mentioned the West Bank, I mean just overnight there has been a report there were eight Palestinians killed in the West Bank in an air strike. The situation is very restive there that there is growing settler violence. Since October seven, Jewish settlers in the area have carried out way over two hundred attacks on Palestinian communities, and the Israeli army have also come down pretty tough on demonstrators and suspected sympathizers of Hamas. The population there in general feels like it's being occupied and oppressed, and that the Palestinian authority which runs the show there in some areas, isn't really representative of them. Obviously, if things continue in this direction, there's massive risks of it boiling over, and then, you know, I think beyond that, beyond Israel's borders. So far it has been more or less contained, but it is very, very worrying. We saw Israel strike the airport in Damascus not that long ago, targeting, yeah, targeting Iranian targets there. So clearly it's a it's a huge risk. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast be by six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time, on Bloomberg eleven Priezero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg nine six in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa. Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, siriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Amy Morris. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) US Equities 2024 Outlook: The Double Dip

2) Falling house prices could worsen the crunch facing households when they come to refinance their fixed-rate mortgage deals, according to research from the Bank of England.

3) South Korea’s early trade data show exports are likely to maintain their growth momentum this month, continuing their rebound from a year-long slump and helping brighten the outlook for global commerce.

4) Republican ultra-conservatives are running out of patience less than four weeks after installing one their own, Mike Johnson, as House speaker, signaling turmoil ahead and heightened risk of a government shutdown in the new year.

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On today's podcast:

1) The first truce since the war between Israel and Hamas erupted last month went into effect on Friday morning. The deal came after weeks of complex and delicate talks brokered by Qatar, the US and Egypt. The halt in fighting in Gaza is intended to last for four days. Hamas, an Iran-backed militant group, is meant to return 50 of the almost 240 hostages it captured from Israel, while the Israelis will release 150 jailed Palestinians and allow more aid into Gaza.

2) The Canadian mayor of Niagara Falls, Jim Diodati, said the Rainbow Bridge is expected to reopen in a day or two, after a car explosion that killed two people shuttered the busy crossing between the US and Canada.

3) Barclays Plc is working on plans to reduce costs by as much as $1.3 billion over several years, which could involve slashing as many as 2,000 jobs, according to Reuters.

Full transcript:|
Good morning. I'm Nathan Hager and I'm John Tucker. Here are these stories we're following today. The first group of Israeli hostages is expected to leave the Gaza Strip soon in a deal that's meant to return fifty of the nearly two hundred and forty captives that Hamas took from Israel. Israel plans to release one hundred and fifty jailed Palestinians. All involved are women and people under the age of nineteen. This stop in fighting is intended to last for four days. It marks the first major lull in this war since it began October seventh. Israeli Prime Minister Benjamin Netanyah, who says the military offensive will go on after that. We hope to get this first tronch out and then we're committed to getting everyone out, but we'll continue with our fore aims namly to eradicate Kamas, because Kamas has already promised that they will do this again and again and again. Israeli Prime Minister Benjamin Netanyah, who says he has delivered that same message in a phone call to President Biden. We had along with a hostage release, the deal will also allow for more AID into Gaza. Bloomberg's owner Aunt says the humanitarian aid is critical for the people at Gaza. The very first trucks that went in we're carrying cooking gas, which obviously is very critical for more than two million people are currently living in Gaza in what the UN calls a dire humanitarian situation. Bloomberg's owner Aunt reports Palestinians were emerging from temporary shelters and crowded the streets as southern Gaza as the AID trucks entered. Back in the US, we want to bring you update from the events that unfolded on the Rainbow Bridge at Niagara Falls this week. New York Governor Kathy Hochel says that bridge is back open after a car explosion on Wednesday killed two people and closed that crossing between the US and Canada. Hockel says there is no sign of terrorism so far. She adds a suspect of ties to Western New York has been identified. Investigation will determine if the blast was intentional or an accident. The holiday shopping season kicks into full swing today, with shoppers searching for Black Friday and Cyber Monday deals. Deloitte Saniel Thanksgiving survey. He finds consumers plan on spending and average almost five hundred and seventy dollars on both days. That's up thirteen percent from last year. And Bert Flickinger managed Rector with Strategic Resource Groups. As shoppers are feeling confident, however, they're using a new tool this shopping season. It's going to be by now, pay later. Fifteen percent of all purchases will be that way, and consumers are still taking on credit card debt, but sixty three percent of consumers will be buying with debit card and trying to put less on credit as interest rates have climbed and the average household has seventeen thousand and revolving unpaid credit card debt. Bert Flickinger with Strategic Resource Groups. As many consumers plan to do much of the shopping during Black Friday and Cyber Monday in order with their spending limits, traders are going to be following the traditional kickoff of the holiday shopping season today as well as SMP Global Manufacturing PMI data that comes after the Eco data dump we saw on Wednesday. It showed a drop in jobless claims and expectations that inflation will climb from the University of Michigan sentiment poll. The bond market is open till two pm Wall Street time today, and the New York Stock Exchange and the Nasdaq close at one and we're also following financial news in Europe this morning. Starting in the banking sector, Barkley's aiming to reduce costs by as much as one point three billion dollars over the next several years and could cut up to two thousand back office jobs that's about two percent of its workforce. This according to a report from Reuter's. Bloomberg's Jenny Serdaine says investors are looking for a renewed strategy after a disappointing third quarter. I think a lot of this is driven by investors just really being unhappy with how this company has been run. And so you've got you know, vin Kata Krishnan, their CEO, who's really looking at trying to take some big, bold moves here and promising that he's going to have a strategy update that will really make clear how to bring Barklays out of this position that they're in. Bloomberg's Jenny Strain says Barkleys could make more cuts in other areas outside the back office. Barkley's share is down about eleven and a half percent this year, and checking those shares now John they're up about a half percent in the pre market in London. Staying in Europe, the economic picture is getting darker in Germany. The German government is suspending a constitutional limit on net new borrowing for a fourth straight year as it struggles to recover from an energy induced downturn last winter. This move to lift the so called debt break will be part of a revised twenty twenty three budget. Chancellor Olof Schultz's government was forced into a radical budget overhaul after a ruling last week from the nation's top court. And turning to Asia, the Chinese government ramping up pressure on banks to support struggling real estate developers. Bloomberg's David English has more we here, trying to may allow banks to offer unsecured short term loans to qualified developers for the first time. These so called working capital loans would offer funds for day to day operations. The loans are different from other types of debt that require land or assets as collateral. We reported that authorities are finalizing this list of developers eligible for that aid. Sources say the list includes Country Garden and sign a Ocean Group. Country Garden shares jump twenty four percent yesterday on word that it was included in that list in Hong Kong. I'm David Ingliss Bloomberg Radio. Okay, David, thanks to earlier this week, oh Peck plus pushback and gathering to finalize output levels for next year by four days to November thirtieth. Now, the group says that meeting will take place online and now it's time to take a look at some of the other stories making news around the world with Bloomberg's Michael Barr. Good Morning, Michael, Good Morning, Nathan and Ireland. Violent clashes broke out in central Dublin after a five year old girl was seriously injured in a NiFe attack that also saw a woman and two other young children hospitalized. Police and the attack happened near a school. Soon after, at least one hundred people took to the street, some armed with metal bars. Police said. Over four hundred officers, including many and riot gear were deployed in Dublin city center to contain the unrest. The head of the Irish Police Guarded Commissioner Drew Harris. We have a complete lunatic hooligan faction driven by far right ideology, and also then this disruptive tendency here engaged in serious violence. Commissioner Harris says a person of interest, a man in his fifties, was arrested at the scene. New York City Mayor Eric Adams has been accused of sexually assaulting a woman in nineteen ninety three. The three page legal document does not contain details of the alleged assault. Adams denied the allegations absolutely not true. You know, I would never do anything to anyone, and it's just really say, you know, my career speaks for itself. The suit comes just hours before New York's Adult Survivor's Act expires, which eliminates the statute of limitations for accusers of sexual abuse to come forward. The filing seeks a trial and five million dollars in relief. Evacuation orders have been lifted near the scene of a tank or train derailment in eastern Kentucky. The trains operator CSXAS sixteen cars went off the rails Wednesday afternoon near the small town of Livingstone, Dustin Heiser with Kentucky Emergency management throughout this entire event. The safety of the public has been our number one concern. The derailment sent dangerous fumes into the air. UN Secretary General Antonio Guterrees is visiting Antarctica just before the COP twenty eight climate talks begin. Gu Terras called the continent's warming devastating warming air and ocean temperatures are causing Antarctic ice to melt. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Ninth It him Michael. Thanks. You can get much more Bloomberg on your dashboard with the new Bloomberg Business App featuring Apple Car Play and Android Auto. You get access to every Bloomberg podcast, live audio feeds from Bloomberg Radio, even print stories in audio form from Bloomberg News. Download it from the Apple App Store or Google Play. Connect your phone to your car and get started with the Bloomberg Business App. Presented by our sponsor, Interactive Brokers. Time now for the Bloomberg Sports Update, brought to you by tri State Outing. Good morning, Nathan, the NFL at the triple header on Thanksgiving, the Packers knocking off the lines in Game one twenty nine to twenty two of the Cowboys dominated the Commanders in Game two opics and stays in the block. That's to late on Hawker. Is that bliand news gott it you streaking out the sideline? He's not hol depeat. If he does, he's gonna play the record of a gain. He slipped through three Commanders defenders at clinics at out and he scores. That is his fifth fix six of the season. That's courtesy of the Cowboys Radio Network, Dallas dominating the Commanders forty five to ten in Dallas, while in Game three is the forty nine Ers all over the Seattle Seahawks thirty one to thirteen. Coming up today, kick off at three pm Eastern Time at Mettlife Stadium in New Jersey. It's the New York Jets hosting the Dolphins. New York comes in losers of three straight. End has made a quarterback change as Tim Boyle takes over for Zach Wilson. Offensive coordinator Nathaniel Hackid talking about Boyle, he has an unbelievable knowledge of the system. He has a tenacity when it comes to his preparation. I mean, he NonStop, from everything from every single drawing to every single thing on the game sheet. He prepares truly like a starter and has since day one. That's courtesy of ny Jets dot Com. In the NBA, a more in season tournament action. Today, the Knicks are home for the Heat. The Celtics on the road of the Magic. It's the Wizards playing at the Milwaukee Bucks. The Warriors are hosting the San Antonio Spurs. That's your Bloomberg Sports update. I'm Dan Schwarzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We continue to monitor developments in the Middle East, where the first pause in fighting between Israel and Hummas in more than six weeks appears to be holding, and it comes after weeks of delicate talks aimed at releasing some of the nearly two hundred and forty hostages that HUMMAS captured in the deadly October seventh attack on Israel. For more, we are joined by Bloomberg's Henry Mayer, who is part of our team of reporters who has been covering this war in the Gaza strip since it began. Henry, good morning. Get us up to speed on developments thus far are since it does look as though this truth is underway and does appear to be holding. Yes, good morning. Well, the truth started at about seven o'clock in the morning local time, and they haven't been any indications of any violations. And you know the importance next stage is going to be the release of thirteen hostages which are being held in Gaza currently. That is expected at four pm local time, and on the same day at thirty nine Palestinian prisoners. All of these are women and people aged under the age of nineteen children in the case of the hostages, and in the prisons you're looking at youths aged under nineteen. So you know, I can't stress how difficult this process has been to even get where we are today. It took weeks of very very difficult diplomacy, secret diplomacy. It broke down at certain stages. But of course, you know the problem is that it's for four days only today have been for the Gaza residents two point one million of them who've been living under daily bombardment for almost seven weeks. Today they finally came out, They left the shelter, they were able to walk around. But of course, at the back of their minds is they know that this arrangement may only last for four days, could be extended up to ten. But we don't know that yet. Before we get to what comes after, we do need to continue to discuss what comes in the midst of this pause. Part of this deal was to get more humanitarian aid into Gaza as well. Have we seen signs of progress there? Yes, we have. You know, there are trucks which are entering through the border with Egypt, the Rapha crossing. We understand from HOMAS officials border officials they expect two hundred trucks to enter Gaza today. This is significantly more than has been allowed to Gaza in recent weeks, but it's still much less than used to come prior to the war, five hundred a day. So the amount of aid that Gaza needs, you know, is way more than what is going to becoming in the next few days. But obviously it's a step in the right direction. And what about the distribution of that aid, because We've heard reports from the United Nations and other non governmental organizations in the area that they have suffered through these bombardments over the last several weeks as well. I mean, what's the difficulty in getting aid into and distributed through Gaza when we've seen so much destruction over the last several weeks. Well, obviously one of the greatest difficulties is the fact that you have an active war zone and it's extremely dangerous to move around. Secondly, there's an acute lack of fuel, so Israel imposed a complete blockade on fuel deliveries initially, and in the recent a week or so it has been allowing in very small quantities of fuel to be used only by the United Nations for transportation purposes. But the quantities of fuel coming in the UNSA that they're completely inadequate for its operations. So yeah, that is something which is still a big problem in the time we have left, Henry, Let's talk about what comes after this pause. We did hear from Israel's Prime Minister, and we've heard from him several times that he does not want the war to end even after this pause expires, but he is under a lot of pressure, particularly from the United States to at least change some of the conduct of this war. What can we expect going forward. I mean, I think that the pressure is only going to increase, and it's not only international pressure, and you mentioned the United States, that's very important. At the same time, there's a domestic issue here, the issue of the hostages. Two hundred and forty were taken into Gaza until now only a handful have been released. Fifty are going to be set free over the next four days. Some of these people are going to be giving interviews, They are going to you know, the public awareness of the hostagism and the kind of conditions in which they are living in Gaza is going to be accentuated, and I think that is going to be something that will weigh very heavily on the Israeli government. Probably not sufficient to get them to stop the conflict at this stage, but I think we are getting closer to that point. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by six am Easter each morning, on Apple's Spotify and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Sirius xmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm John Tucker. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg day Break

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Bloomberg Daybreak Holiday Edition with Nathan Hager takes a look at some of the stories we're tracking around Thanksgiving. 

1) What's in store for the energy space as OPEC+ delays its meeting?

2) How are retailers faring as we enter the holiday shopping season?

3) An update on some big antitrust cases, including the Justice Department's lawsuit against Google. 

4) Plus, a look at the Ozempic effect on Thanksgiving dinner. 

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On today's podcast:

1) Israel and Hamas Agree to Short Truce for Hostage Release

2) Altman Returns as OpenAI CEO

3) Nvidia Investors Give Ho-Hum Reaction to Latest Growth Surge 

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On today's podcast:

1) OpenAI said it’s in “intense discussions” to unify the company after another tumultuous day that saw most employees threaten to quit if Sam Altman doesn’t return as chief executive officer. 

2) Microsoft Chief Executive Officer Satya Nadella signaled that he’d be open to Sam Altman going back to OpenAI, rather than joining his company as part of a surprise move announced over the weekend.

3) The leader of Hamas said his group was close to reaching a “truce agreement” with Israel via Qatari mediation in rare public comments that suggest talks over freeing some hostages held by the Gaza-based group are progressing.

4) Nvidia’s quarterly results could still exceed sky-high investor expectations thanks to strong demand for generative artificial intelligence.

Full transcript: 

Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with the controversy surrounding open Ai. A day after the founder, Sam Altman left for Microsoft, the firm says it is in quote intense discussions to unify the company. In an internal memo reviewed by Bloomberg News, Vice president of Global Affairs, Anna Macanju says open Ai management is also in touch with Aldman. In an interview with Bloomberg News, Microsoft CEO Satia Nadella signaled he would be open to Aldman going back to open ai. We really want to partner with open ai, and we want to partner with Sam. And so you respect to where Sam is. He's working with Microsoft, and that is the case on Friday, and that'll be that's the case today, and we will I absolutely believe that'll be the case tomorrow. Microsoft CEO Satia Nadella says, no matter what happens, open ai needs governance changes. Microsoft shares closed at a record high yesterday. Nearly all of open AI's employees threatened to quit and follow Altman to Microsoft unless the current board resign. Gene Munster managing partner at deep Water Asset Management thinks Altman will land back at open AI. The board's going to be gone. So when if Altman goes back, by the way, that is my prediction what happens here. I think he's actually going to return to open AI. If he goes back to open AI, they're going to be more aggressive at opening these models up. And if he stays with Microsoft, they're going to be more aggressive. And I think at the end of the day, you're probably going to see faster adoption of AI features. It's been coming at a neck break speed, but I think it's going to be even faster based on everything that's happened here. This is really allowing Altman to take his gloves off and probably do what he's wanted to do for the last eight years, and that's deep Water Asset Management's Gene Munster speaking to Bloomberg. Now, let's get to the latest from the Middle East. The leader of Hamas Ismail Hania says his group is close to reaching a truce agreement with Israel through talks mediated by contract President Biden has said both sides are near a deal to free some of the two hundred and forty hostages Hamas seized in the October seventh attack. White House National Security spokesman John Kirby says there would need to be a pause in the fighting if you're going to secure the release of hostages, and we certainly hope we're going to be able to do that soon. You got to make sure they can get from where they are to safety and do that as safely as possible, which means you're going to have to have at least a temporary, localized stop in the fighting. White House spokesman John Kirby says it's been difficult getting information on the hostages because Hamas has control of that access. Meantime, Israeli forces continue to engage in heavy fighting in the Northern Gaza Strip. Israel's taking control of much of the Alshifa Hospital, which it says Hamas used as a command and control center. Well Nathan, the White House is open accounts on Meta's social media platform as threads for the President and Vice President, and Bloomberg said Baxter has the details. The White House says it's just another way to meet people where they are. It says it's been using different forms of media since the beginning of the administration, and this has been in motion for several weeks now, but the timing does come in the wake of Elon Musk's endorsement of antisemitic content, and according to sources, the White House is not considering ending its use of ex accounts because of that, although they do say the Musk post angered Biden and his aides Ed Baxter Bloomberg Radio OK, thank you. A new front's opening in the US China chip conflict. President Biden is shifting focus to an emerging area of the contest for technological supremacy, the process of packaging semiconductors that has increasingly seen as a path to achieving higher performance. The US isn't alone though, in recognizing the potential of so called advanced packaging. China too is capitalizing on an area that is not subject to sanctions, capturing global market share and achieving progress that it was denied in manufacturing high end chips well staying with ships. Nathan Nvidia reports earnings after the bill. The high flying semiconductor stock is up two hundred and forty five percent so far this year year. Mandy Singh, senior technology analysts for Bloomberg's and Video shares closed at an all time high yesterday, and Karen was staying on the earnings front. Zoom reported better than expected revenue on strong enterprise sales. The company who signature video software became the essential communications tool for home bound Americans during the pandemic, has now turned its focus to business customers, as Zoom has added features for those clients, including word processing, and stepped up the use of artificial intelligence to buttress its main video conferencing service. Nathan Investors also have their eyes on US treasuries, wondering if the world's deepest dead market will suffer a third straight year of losses, and we get more in this live report from Bloomberg's John Tucker. John, Good morning, Karen. Investors who anticipated twenty twenty three would be the year of the bond were instead hit by waves of turmoil, but the year may have a happy ending, as treasury sore this month, traders now bet the Fed is done with hiking interest rates and in fact will cut rates of the first half of next year. You hope that happy narrative gets support when the Fed today releases minutes of its last policy meeting. The surgeon bond price has also got a green light to continue yesterday after an auction of twenty year debt went off without a hitch. US treasuries have gained two point six percent this month through Friday, cutting the loss for the year to merely two tenths of a percent, according to data compiled by Bloomberg John Tucker Bloomberg Radio, All right, John, thank you. Finally, as we approach the Thanksgiving holiday, Black Friday and Cyber Monday, spending are projected to hit new highs. Consumers plan to spend an average of five hundred and sixty seven dollars during those two shopping events. That would be a thirteen percent increase from last year. That result is a record for Deloitte's annual Black Friday Cyber Monday survey. About eighty four percent of shoppers say they feel confident enough to stick with the budgets they set in September four and ten say they will finish their holiday shopping during this long holiday weekend, futures pointing to a month honestly hire open this morning on Wall Street. This is Bloomberg sor Ry Nathan. Thanks. It's time now for a look at some of the other stories making news around the world. For that were joined by Bloomberg's Amy Morris Amy, Good Morning, Good morning, Karen. Police in Ohio see a shooter opened fire at a Walmart, wounding four people before apparently killing himself. The attack took place last night out of Walmart and Beaver Creek in the Dayton metropolitan area. Beaver Creek Police Captain Scott Molnar says the four victims are currently being treated for their injuries. Centured four victims. The conditions of the victims right now is unknown, as they were all transported to area hospitals for treatment. Police did not immediately release the name of the gunman or a possible motive for the attack. Meanwhile, in Colorado, another mass shooting, police say three people are dead and fourth is in critical condition after a gunman opened fire in Custer County. Police say that gunman is on the run. They believe he was in a civil dispute with one of the victims over property lines. Donald Trump's gag order our hearing is over a panel of three federal appeals witnesses appeared reluctant to give Trump a green light to resume public attacks on witnesses, prosecutors, and court staff, but they did signal that they would be open to narrowing the scope of the gag order. Judge Patricia Millett, we certainly want to make sure that the criminal trial process and its integrity as truth finding function are protected. Use a careful scalpel here and not step into really sort of skewing in the political arena, don't we. The DC Circuit put the case on a fast track rather than a typical appeal, but did not say when it plans to rule. Trump's lawyers have already said they'll ask the Supreme Court to intervene if the Appeals Court doesn't lift the full order. Thanksgivings just two days away, but the travel rush is already underway by road, railer, runway. Millions of Americans are traveling this week. TSA expects this to be one of the busiest travel periods of the year. This traveler, flying out of the Oakland International Airport refuses to lose her cool if things go awry. I imagine there'll be a few, But how does your roll with it? Triple A says Today and tomorrow our peak travel windows, when nearly five million people will pass through airports, a million people will ride the rails, and fifty million Americans will be on the highway global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morrison. This is Bloomberg Karen. All right, Amy, thank you what we do bring you news throughout the day right here on Bloomberg Radio. But as you heard Amy say, now, you can get the latest news on demand whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify, and anywhere else you get your podcasts at his time. Now for the Bloomberg Sports Update, here's John stash Hour, John Karen. Philadelphia Eagles coach Nick Sirianni admits the previous game between his team and the Kansas City Chiefs a little bit more important. That was last February Super Bowl won by k C. But the Eagles did get some revenge and a Monday night or at Arrowhead Stadium, winning twenty one to seventeen. They trailed seventeen to seven at halftime. Jalen Hurts scored a touchdown on the third quarter and then the go ahead TV on a quarterback sneak cappin in eighty yar drive. With six point twenty remain the Eagles are nine to one to the first team since the Colts in two thousand and five and six to start consecutive seasons with that good of a record. Quarterback change in New York no surprise the Jets benching the struggling Zach Wilson, turning to Tim Boyle, who's only made three NFL starts and has never won a game. Joe Flacco signing with the Cleveland Browns, although the Browns will keep Dorian Thompson Robinson the rookie as their starter, replacing the injury to Shawn Watson. Gino Smith as an elbow injury, hopeful that he can play for Seattle in the game Thursday night against the forty nine Ers, I'm sending the NBA. Charlotte beat the Celtics at overtime one twenty one to one eighteen. The Hornets had lost four in a row. It ends the Celtics six game winning street. Jason Tatum scored forty five in the loss. The Warriors had lost six in a row, but Steph Curry back in the lineup, but he scored thirty two in a one twenty one one sixteen win over Houston. Six straight loss for Washington being home by Milwaukee one forty two to one twenty nine. Giannis Duntractempo scored forty two shot twenty of twenty three. Bruins lost in overtime at Tampa Bay John Station with Bloomberg Sports Ken all right, John, thank you. Coming up on Bloomberg day Break. You've been hearing a lot about Open Ai and Sam Altman and Microsoft. Of course, we'll be talking to the Microsoft CEO, Satia Nadella. He joined our Emily Chang, and he's going to discuss this entire story with us straight ahead. And ahead of that conversation, futures are lower with SNP futures down a tenth of a percent, down about five points. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We continue to follow the saga at open Ai after a whirlwind of events over the weekend led to the ouster of co founder Sam Aldman, only for Microsoft to bring him on. Microsoft CEO Satya Nadella joined Bloomberg's Emily Chang to discuss the hiring of Sam Maltman as OpenAI investors push for Altman to come back. They also spoke about Microsoft's partnership with the company and its goals for artificial intelligence. Let's bring you that conversation now, Satya. Obviously, it's been a very fast moving and dramatic last of seventy two to forty eight hours, and I want to start with the state of play. Where are we now? Open ai says it's hired a new CEO. We're reporting their efforts to get Sam Altman back. Tell us where things stand. Well, first of all, having it's great to be with you, you know, on Friday morning, we were very excited, committed and confident in our innovation roadmap to bring this next generation of AI to our customers. And we feel fantastic and capable of doing that. And we were partnered with open ai, and we were partnered with Sam and that's exactly where I am on Monday afternoon, if you will, because we think that we can. You know, we are leading in this next generation of AI technology. We continue to be committed to open ai, and we continue to be committed to Sam and Greg and the team in respect you where they are. And you know, I think about Sam has chosen multiple times now to work with us, and that's fantastic to see. And I think the real thing is that the capability that Microsoft has across the tech stack is what attracts great people like Sam, you know, and people like Sam, and you know, innovators like Sam when it comes to AI, to come to us, and we are thrilled about it. You incredibly quickly hired Sam as well as Greg. We are hearing that Sam wants to return. Investors want him to return to open ai. How would you feel about that? Yeah, as I said, we really want to partner with open ai and we want to partner with Sam. And so in respect you of where Sam is, he's working with Microsoft. And that is the case on Friday, and that'll be that's the case today and we will I absolutely believe that that will be the case tomorrow. So what are the conversations you've had with open AI's current board from their perspective, where do things stand? And have you talked with Emmett Sheer, the new interim CEO. Yeah, I've had conversations with Emmett, and again it's the same thing. There's no real difference there from where we were when we were working with Mira and she was interim CEO, when Sam was CEO and Emmett So my message to them Emmett is very clear, which is, hey, look, we remain very very committed to open ai and it's mission and it's sort of roadmap and they can count on us. And then, as I said, we also are very committed to Sam and Greg and team that want to join us. If they're not at open ai or anyone else who's at open ai wants to go somewhere else, we want them to come to Microsoft and continue to work here and win partnership with open ai. To your knowledge, why was Sam fired and to your knowledge was he involved in any wrongdoing? Has the board given you a reason? As far as I'm concerned, you know, we were, as I said, we were very confident in Sam and his leadership team. I've not been told about anything. You know, they published internally at open ai that there is not that the board has not talked about anything that Sam did other than some breakdown in communications. And you know, I'm not directly and was told by anyone from their board about any issues. And so therefore I remain confident in Sam and his leadership and capability, and that's why you know, we want to welcome him to Microsoft. Now, we understand that to support a return of Sam mom and too open Ai, Microsoft wants some changes to the board, to governance, to its overall contract with open ai, so something like this never happens. Again, what specifically are you looking for, for example, would you want to board see and if not, what else? Yeah, I mean I think we definitely will want some governance changes. So then you know, you know, surprises are bad and we just want to make sure that things are done in a way that will allow us to continue to partner. Well that's about it, right. You know, this idea that somehow, you know, suddenly changes happen without being you know, in the loop is not good. And we will definitely ensure that some of the changes that are needed to happen and we continue to be able to go along on the partnership with open AI. So how are you envisioning this role with the sort of you know, advanced AI team that Sam and Greg would be joining and leading. Can you explain that? And are they actually Microsoft employees right now? Like who do they work for? Yeah, so they're all in the process of joining, and yes, I mean the thing is that you know, we have a ton of AI expertise in this company. You know, in fact, at Aurignite conference last week, we talked about all of the great work open aies doing and on Azure and all the models and tools that we built around it. And we also talked about all the open source models that are on Azure from you know, Lama and miss Stral and jas and everything you know. And then also you know, in fact, not only are we leaders in llms in partnership with open ai, but we're also leaders in SLMs or the small language models with five and we talked about that, which is all developed by Microsoft Research. So what we am excited about is sort of creating another team that's really going to have high ambition on leading edge advanced day I work that Sam and Greg are excited about. This is something that you know, we've talked a lot about with them. You know, what happens in twenty five, what happens in thirty What do we do to advance both the system side the science side. And that's the thing that we will be pushing on. Now. Many folks I'm speaking with don't see Sam as a sort of big tech company guy. He has all of these side product projects that you know, we've already heard about, we've reported on new projects. Would he be able to pursue these side projects while being employed by Microsoft? Yeah, I'm sure you know, Like you know, Sam has got broad interests and broad investments and so on, and we'll definitely, you know, work through the governance aspects of it. But most importantly, I think you would want to only work at Microsoft if he wants to spend his full time time on really pursuing the mission, just like how we were spending his time on open AI. And so that's kind of the idea behind having him lead this advanced research team around AI with Greg and others. And you know, that's an exciting thing for us to look forward to. I'm curious just your reaction to you know, the last three days of events. Are you now more concerned than ever about AI safety, given we've seen clearly how fragile these institutions are. It's a great point. I mean, the thing that I think, in some sense, I've always felt that we should think about the unintended consequences of any great advances in technology from day one, versus dealing with them later. So in some sense I welcome this dialogue, if you will, of safety and safety first, even in technology and technological development, right, I mean, that's I think in some sense it should be celebrated that we as a tech industry have gotten to a place where we don't think of this as a tradeoff, but we think about this as two considerations that are both first class. Right. One is how do we build technology so that everybody in the world can have a doctor, an X that they can reach, or a tutor or you know, a rural farmer in India has more agency because of technology that was developed in the West Coast of the United States a few months earlier. These are unbelievable things that democratize access on one side, but on the other side, being grounded on the here and now harms right, whether it's election interference or deep fakes or bias or bioterrorism and having the guardrails against it or even some of the you know, AI take off existential risks and the alignment research that is required. So I think that there is a real robust dialogue that's happening, which is and real work. Like when I think about Microsoft, we have done, in fact, some of the biggest most work around AI alignment, AI safety guardrails. So for example, even the open source models we launched last week all have benefit from all the guardrail work we did around open AYE models. So throughout the reporting process, we've heard, you know, concerns about potential regulatory issues and of course the power that Microsoft already has, the power that Microsoft has in AI. Have you, on your end work through all the potential legal issues at play here? I mean, I just spoke to one investor who said, you know, they're considering suing open ai, Like, you know, there's a lot of things that have yet it seems to be figured out. And do you know what Microsoft's legal liability is and open AI's legal liability is given your significant investment there, Yeah, Look, I'm I'm most focused on and most excited about our ability to continue to innovate. Emily I mean, I let the lawyers sort of figured out what liabilities are. But I think we have all the capability, all the IP and all the things that we need in order to continue to essentially control our destiny here so that we can continue to innovate on behalf of our customers. That's what matters, That's what makes Microsoft Microsoft, and we'll continue to do what we need to do. Okay, so quick, last question, this is today. Who's going to be CEO of open Ai Tomorrow? You tell me I will leave it to open Ai and it's bored. Microsoft Ceosatia Nadella says, no matter what happens, open Ai needs governance changes. Microsoft shares clothes at a record high yesterday. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Election devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERRIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

See omnystudio.com/listener for privacy information.

On today's podcast:

1) OpenAI co-founder Sam Altman is joining Microsoft to lead its AI effort after the board replaced him with Twitch’s ex-CEO, a stunning reversal for the widely respected tech-evangelist who helped jumpstart the artificial intelligence boom.

2) Israeli forces engaged in heavy fighting with Hamas in the northern Gaza Strip overnight as the US said it was optimistic about a deal to free hostages held by the militant group.

3) Elon Musk railed against “bogus” media reports accusing him of antisemitism, issuing his strongest response yet after endorsing antisemitic content in a post on X that provoked outrage and alienated advertisers like Apple Inc.

4) Rosalynn Carter, who broke new ground as an activist US first lady by attending her husband’s Cabinet meetings and leading a presidential effort to improve care for the mentally ill, all while raising a young daughter at the White House, has died. She was 96.

Full Transcript: 
Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with a wild weekend in the world of artificial intelligence. Less than seventy two hours after he was ousted at OpenAI, the company behind chat GPT, which he helped to create, Sam Aldman has now been hired by Microsoft. He's going to lead Microsoft's new in house artificial intelligence team. Bloomberg Original's host A Zimazhar, author of AI newsletter Exponential View, says Microsoft CEO Satya Nadella didn't waste time nabbing old men. Satya has moved very quickly to shore up the commitments he has made to his customers. Microsoft has made a big bet on open ai, and the technology was now powering so many Microsoft products, including their most premium office Suite through the co pilot that was sort of part supported by OpenAI. So I think this is a very very rapid move on his part to ensure that Microsoft can continue to be a leader in developing and deploying AI systems for enceerprises. Bloomberg Original's host A zim Oshar says Greg Brockman and open ai co founder who also left, is going to be joining Altman at Microsoft as well, and right now shares of Microsoft are hire by two and a half percent in early trading. Well, Nathan Altman was fired on Friday after the board of open Ai said they lost confidence in him as a leader, and Bloomberg's Rachel Metz says open Ai offered few clues as to the reasons for the departure. Open ai leadership has put out memos internally at the company, saying that the board hasn't said that there was any quote mal season or anything like that, so it's not totally clear what the board was initially even accusing him of doing when it got rid of him, and Bloomberg's Rachel Metz says open AI's board hired former Twitch chief Emitted Sheer as chief executive. Microsoft CEO Sunny and Adela said his company looks forward to working with Sheer and remains admitted to the open Ai relationship. Well Karen, Another big name in tech is in the news this morning for a very different reason. Elon Musk is defending himself after an anti Semitic furor has deepened. More on that this morning from Bloomberg's John Tucker, John and Nathan Musk posted on x that he is not anti Semitic and he wishes only the best for humanity. A backlash erupted last week after the head of Tesla and AX agreed with a post that said Jewish people hold a dialectical hatred of white people advertised there's like Apple and Walt Disney pulled away from Max. What we used to know is Twitter. The Financial Times Meantime reports that advertising executives privately urged X CEO Linda Yakarino over the weekend to resign in order to save her reputation. A Musk is a track record of promoting hate speech, but not everyone is abandoned Musk. Hedge fund manager Bill Ackman was among those who leapt a Musk's defense. I'm John Tucker, Bloomberg Radio, Right, John, Thank you now. To the latest. In the Middle East, the White House says a deal is as close as it's ever been for Hamas to release hostages in exchange for Israel foreing Palestinian women and children from its prisons. Deputy National Security Advisor John Finer says the agreement could involve a multi day pause in the fighting in Gaza. That would first and foremost enable the hostages to actually be released safely, but that would also make it much easier to both bring humanitarian assistance into Gaza and also distribute that assistance. John Finer at the White House spoke on ABC's This Week Heard Sundays on Bloomberg Radio. Israel also released video of a tunnel chef near the Alshifa Hospital in Gaza City. Rear Admiral and Daniel Hungary with the Israel Defense Forces says it proves Hamas used the facility as a command center. Hamas was hiding and murdering our hostages in Shifa Hospital. Hamas was building terror tunnels underneath Shifa Hospital. Israel's government also says around back who he wearbules and Yemen hijacked a cargo ship in the Red Sea, being a key global shipping route elsewhere globally. In Argentina, Karen libertarian outsider Javier Malay will become the country's new president. Malay's promising a radical shakeup to fix decades of policy mismanagement. Speaking to crowds in Buenos Aires, the president to like to stress the need for immediate action, promise the situation in Argentina is critical. The changes that this country needs are drastic. There's no room for gradual measure, and there's no way to say it. Long lived freedom. Javier Malay spoke there through an interpreter and also highlighted Argentina's critical economic condition in that address to supporters. Markets in Argentina are close today for public holiday. Well Nathan, the world mourning the loss of former First Lady Rosalind Carter, and Bloomberg's Ed Baxter has more on the passing of the wife of former President Jimmy Carter. Rosalind Carter has been a tireless humanitarian both during the administration and then after, also a mental health advocate of the First Order. Two years ago, she was asked what makes a happy marriage. She says, many different things, but trying to make each other happy every day and do things together. We're always looking to do things for fine things we can do together. She has been at hospice care. At Baxter Bloomberg Radio, All right, Ed, thank you, Let's get you caught up on some corporate news this morning. We're watching shares of bay Or. They are plunging more than twenty percent. The German pharma and agriculture company stop the main study of its top experimental medicine due to a lack of efficacy. Beyer also lost a key US trial against its we'd killer roundup. And Nathan chares at Julius Bear. They are down about ten and a half percent. The Zurich based bank warning it's full of your profit will probably decline. The firm says provisions for bad loans. Jumped futures on Wall Street are higher. SMP futures up a tenth of a percent, as our down futures. Nasdaq futures up two tenths of one percent. Treasury yield right now four point four to four percent. This is Bloomberg, all right, Nathan, Thanks, It's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. See me, Good morning, Good morning, Karen. Former President Donald Trump and Texas Governor Greg Abbott served Thanksgiving meals yesterday and an airport hangar near the southern border to nearly two hundred border officials who will be stationed on the border over Thanksgiving. Afterwards, the governor endorsed Trump's twenty twenty four bid for the White House. I'm here today to officially proclaim my endorsement for Donald J. Trump to be President of the United States of America again. Abbot praising Trump for his border policies and battle to New York Representative George Santos face is another resolution to expel him from the House after the Thanksgiving holiday, Ethics Committee member and fellow New York Republican Andrew Garbarino tells ABC News he was shocked by what the investigation uncovered. He took every opportunity of available to him as a candidate to really gain the system offer his personal benefit. I wish I knew it was gonna be bad. I didn't think it was going to be this bad. The House Ethics Committee released its report into what investigators described as quote a complex web of unlawful activity involving Representative Santo's campaign, personal and business finances. The major Los Angeles roadway damaged by arson more than a week ago, reopened way ahead of schedule yesterday evening. California Governor Gavin Newsom says the iten will be fully operational for this morning's commute, but the work continues when well we see those permanent fixes secured. That will be over the course of many weeks, maybe a few months, but that won't significantly impact the commute or impact the five lanes that are now open in both directions. A Lease are searching for a suspect in that fire. They're asking for the public's help. Airports across the country are bracing for record Thanksgiving travel this week. TSA expecting to screen thirty million passengers over the holiday. Thomas grab is in Detroit. He's flying to New Orleans, but he's not expecting big crowds at the airport while he's there. I'm not expecting delays because I'm leaving on Thanksgiving Day, so a lot of people try to leave before. Sunday after Thanksgiving is projected to be the busiest day, with an estimated two point nine million passengers. Take into the skies. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morrison. This is Bloomberg Karen. All right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you wanted. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stashauer, John Karen. No one could have expected this late in the NFL season for the Detroit Lions to have the second best record in the league. They are now eight and two. It's their best start to season since nineteen sixty two. They come back in Detroit. The Lions trailed the Bears by twelve points with three minutes left. Lions came back to win thirty one twenty sixtyes fight an off day for their quarterback Jared goff k through three interceptions. The Cowboys are seven to three, a point defferential of plus one twenty seven, tied with Baltimore for the best in the league. Cowboys won easily at Carolina thirty three to ten, forty nine ers, also seven to three. Brock perty twenty one of twenty five, three hundred and thirty five yards three touchdowns, including the seventy six yard to Brandon Ayu. Forty nine Ers beat the Bucks twenty seven to fourteen. The game last night won by Denver a Russell Wilson touchdown pass to Courtland Sutton with a minute ago. The Broncos fourth winning a row twenty one to twenty over the Vikings, who saw their five game winning streak come to an end. Good one tonight. It's the eight and one Eagles and the seven and two Chiefs. It's in Kansas City. It's a Super Bowl rematch. Syracuse has fired it's football coach. Dino Babers. Had the job for eight years, went forty one and fifty five. So add Syracuse to the list of schools we'll be looking for a coach for next year. Aaron Nola has already pitched nine seasons for the Phillies and he is stained put. He was a free agent but re upped with the phil seven years, one hundred and seventy two million. The f one raised in Las Vegas won by Max vers Stapp, and he's already won the season championship. John stash Awer Bloomberg Sports. Karen all Right, John Stashauer, thank you well. Coming up on Bloomberg Daybreak. We are going to be speaking with our own Creedy Gupta. We'll be discussing that changes at open Ai and of course Sam Altman going over to Microsoft again. That's coming up with Crety Gupta, and then we'll get the latest on the war in the Middle East. We'll be joined by Israeli government spokesman Alon Levy ahead of those conversations, though, futures on the rise, with SNP futures up a tenth of ve percent, up about six points this morning. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager on the end of what could be the end of a head spinning few days. Just keeping on top of what's been happening at OpenAI. It started with the sudden announcement on Friday that CEO Sam Altman was being ousted, then a tug of war between open AI's board and its biggest investors to try to get Altman back. Now the word this morning that Sam Altman and OpenAI founder Greg Brockman have landed at Microsoft, one of those biggest open Ai investors, to run Microsoft's in house AI team. Let's get more on all this now we're joined by Bloomberg's Critty Gupta. Did I sum it up well enough? There? Critty? You did? And yet there's still so much more to pack. I mean, this saga is so fascinating. Nathan. You mentioned Microsoft and Opening I clearly have a close relationship. Let's put some numbers on it. Microsoft has a forty nine percent stake in open Ai. But now I guess the question is, what do you do with that steak? If Sam Altmant and I believe it's been reported that half of the company's employees have followed him, are now going to be absorbed into Microsoft itself. But Nathan, I think we shop at the market moves here MSFT, your ticker hired by two point six percent off that news. Macro read through as well if you don't care about Microsoft specifically, Nasdaq futures popped on the news when they broke at about eight am London time, So again something to watch very closely, but also read through into alphabet Google shares goog down about one percent. Because now we are in direct competition with Alphabet's offering of their own AI platform, Deep Mind. So you are starting to see this become a true kind of competitive take between Microsoft and Alphabet when it comes to the AI, even more of an arms race potentially when it comes to artificial intelligence. And what does it say now when you have the leadership of open ai now in charge of Microsoft's in house team, and at least at the moment, Microsoft is saying they still want to have that relationship with open Ai. I mean can they? I mean, in theory they can because of that forty nine percent stake that exists. But I guess the question now really goes to words more and this is not my area of expertise and manly intellectual property and where the founding of it is. If you look at the makeup of the board of open Ai, the board that ousted Sam Altman, by the way, it's made up of basically the brains behind chat GPT, you're chief scientist for example, that Sam Altman was notably at odds with even Mira Marati, she was the chief technical officer over at open Ai before she became interim CEO. She's been advocating for Sam to actually come back to the board, but other members of the board include experts in tech who were actually able to help create it. There is a thought out there that perhaps Microsoft would want to kind of not only create their own AI team, but also have that exposure to whatever it is open Ai takes on next, especially under their new leadership of the former Twitch CEO Emmett Shecher. All right, Bloomberg's Critti Gupta will be checking back with you as we continue to monitor developments with Sam Altman, now former CEO of open Ai, landing at Microsoft to lead their artificial intelligence team. Now, we want to turn to the Middle East, where Israel and Hamas are said to be closer than ever to reaching a deal to free hostages taken in the October seventh attack that's set off the war in Gaza. That would be an exchange we're told for a multi day pause in the fighting for more. We're joined now by Israeli government spokesman Alon Levy. It's good to have you back on with us here on Bloomberg. Alon, can you give us any further clarity on where things stand on these hostage talks? Israeli society is, of course sick with worry for the fate of our two hundred and forty hostages, including thirty children. I really do mean sick with worry. People aren't sleeping properly. We're doing everything we can to bring them home. You'll understand that I can't comment on sensitive negotiations that are ongoing because human lives hang in the balance. We hope to bring these people home, but the less we say the better. At this point, are you hoping to get all the hostages back? How would it work in terms of the number of hostages that could be returned, and what would that mean for the progress of the war. We have two goals in this war in response to the October seventh massacre. The first is to totally destroy Hamas's governing and terrorist infrastructure inside the Gaza strips so it can never pose a threat to our people again. And the second is to bring all of our hostages home. That is the goal of this war. We hope that they will be brought safe and sound. Unfortunately it's been too late for some of them. Corporal Noah Marciano, age nineteen, was a female soldier. Yesterday we revealed that she was executed by Hamas on the grounds of the Shifa Hospital. We're doing everything we can to get the rest of the hostages out, including the thirty children, including the ten toddlers under the age of five. We're sick with worry for them. We're demanding their immediate and unconditional release, and we're calling on the whole world to put all possible pressure on Hamas and its supporters. There is no excuse for abducting babies from their beds and holding them in communicado for forty five days in a dark tunnel somewhere. To your point about Hamas reportedly using that hospital or Shifa Hospital as an execution point four hostages, that raises the question once again about whether Hamas used that hospital itself as a command and control center. I know the Israeli military has a released video that shows tunnel shafts near that facility. Does that prove that Hamas used that facility as a military post? All the people who've spent the last few days pretending that the Hamas terror tunnels were the next Saddam WMD's look very silly now that the evidence has come to light. Last night, the IDF released footage of a tunnel that stretches. The shaft stretches ten meters underground on the grounds of the Shifa Hospital. It then extends for fifty five meters until you reach a blast door with a gun hole in it. Now, I don't know whether you've ever seen a blast door with a gun hole in an underground tunnel in hospitals near where you are. We certainly don't have them here in Israel. And that's in addition to the evidence that Hamas used the Sheifa Hospital on October seventh in order to hold hostages. Yesterday, we released CCTV footage from inside the hospital showing two hostages, anpoorly and a Thai citizen by the way, being manhandled into the hospital. One of them doesn't appear to be wounded at all, and he's being dragged in by terrorists with a meat kleaver and with guns. The evidence is there for all to see. Unfortunately, the World Health Organization, none of the other UN agencies that have for many years been covering up for Hamas, have found the moral courage to condemn Hamas's use of hospitals as human shields. And we're demanding full accountability from these agencies that most probably knew and said nothing and still continue to say nothing. Obviously, we in Israel are suffering from this deep systemic rot in these international institutions, but they're failing the global community as well when something like terrorists using hospitals as a command center is something that they cannot go on the record and condemn. And to that point, Alon, there has been the concern raised as well as you alluded to, from the World Health Organization, the United Nations, and now the United States about the risk of civilians, non combatants, being casualties. Now, with the fighting moving into hospitals and into schools as well, how can you minimize the risk of further civilian casualties in this conflict. We are targeting Hamas everything we can to get civilians out of harm's way. Unfortunately, on October seventh, Hamas declared war on us with the brutal October seventh massacre, and it chose to fight that war from within densely populated areas. You know, Hamas's whole strategy is based on human shields. It sounds evil, it sounds cynical, and that's because it is. Hamas has spent sixteen years embedding itself under civilian areas so that it can hide behind women and children. And as our soldiers have gone through the Gaza Strip, we have uncovered tunnel shafts underneath a child's bed. We found missiles in the compartment under a girl's mattress. We found rocket launchers with the cables leading into clinics and mosques. And we've spent the last month urging civilians in northern Gaza to get out of the way because the fighting is going to get dangerous. Because Hamas is trying to put them in harm's way. We're trying to get them out of harm's way. That's why we've been securing humanitarian corridors for people to leave. Our own soldiers have been shot at by Hamas terrorists with RPGs as we try to secure your safe passage for Palestinians to leave. And I have to say it's tragic that Israel has been urging an evacuation since October thirteenth because the fighting is going to get dangerous, and UN agencies resisted and said that couldn't happen. And now the World Health Organization has finally come around to Israel's way of thinking that that hospital has to be evacuated to keep people safe. It took thirty eight days, and we hold the World Health Organization complicit with Hamas's human shield strategy and with any loss of life that has taken place in that time because of its gross negligence, because it dragged its feet and refused to facilitate an evacuation before the ground offensive, and is now demanding that Israel complete that evacuation under fire, something we will of course continue to do because we don't want to see civilians heard we want to go after Hamas. In the last couple of days, Alon, we have heard that this war is moving into a new phase now with the fighting going on into hospitals. Can you explain more what the new phase of this war means. Is the fighting going to move further into southern Gaza. Israel is now operating deep inside Gaza City. We're striking at Hamas's control and command centers, and the Israeli Army Chief of Staff said just at the end of last week, we're approaching the end of our campaign in northern Gaza to root out Hamas infrastructure and will turn to the rest of the Gaza Strip. Our response to the October seventh massacre. To that horrific terror attack when twelve hundred people were butchered, massacred, tortured, mutilated, burned, alive, raped in the most brutal way imaginable, is to eliminate the terror organization that did that and is openly promising in interview after interview to do another October seventh, and another October seventh, and as many as it takes until they murder every man, woman, child in our country. This war must end with the total eradication of Hamas. And we know that we stand shoulder to shoulder with the Free Nations, with President by And in the United States, who wrote in the Washington Post yesterday, this war must end with the total destruction of Hamas. This war cannot end with Hamas free to reoffend, because if this war ends with Hammas still in power, it will perpetrate more atrocities against our people. It's a genocidal terror organization that openly says it wants to murder every person in this country, destroy the state of Israel, and we will not let it. This was the straw that broke a very strong camel's back, and this war will end with the end of Hammas. Thank you for joining us. Alon, I hope we can reach back out to you in the days to come. That's Alon Levy with us this morning, spokesman for the Israeli government. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg daybreak

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) Earnings continue...one big company reporting this week is Nvidia. According to Bloomberg Intelligence...Nvidia is likely to report another beat in its fiscal 3Q earnings results and guidance.

2) In the UK: Chancellor of the Exchequer Jeremy Hunt likely has limited scope to ease fiscal policy in his upcoming Autumn Statement. Bloomberg Economics expects near-term growth and inflation impact of the Autumn Statement will be broadly neutral.

3) In Asia: The Biden administration’s decision to remove a Chinese organization from a sanctions list as part of a deal to combat the fentanyl crisis marks an unusual concession to Beijing’s complaints over US trade restrictions. 

4) In Washington: President Joe Biden signed a stopgap bill to extend government funding into early 2024, averting a government shutdown for now but kicking a politically-divisive debate over federal spending into a presidential election year.

Full transcript: 

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On today's podcast:

1) President Joe Biden signed a stopgap bill to extend government funding into early 2024, averting a government shutdown for now but kicking a politically-divisive debate over federal spending into a presidential election year.

2) Gaza’s telecommunications services stopped Thursday after providing companies said the fuel used for generators had been depleted, the United Nations Office for the Coordination of Humanitarian Affairs said. Syria’s aerial defenses intercepted some Israeli missiles that were fired against targets in Damascus, state-run Sana news agency reported.

3) Alphabet Inc. Chief Executive Officer Sundar Pichai said he expects China to be “at the forefront” of artificial intelligence, and said it’s important for the US to collaborate with the Asian nation on both regulation and innovation.

4) Embattled New York Republican George Santos announced he will not run for reelection to his seat in the US House.  The news came just after the GOP chairman of the House’s ethics panel called Thursday for Santos’s expulsion following a committee investigation that found “substantial evidence” the New York Republican violated federal criminal laws.

5) Cincinnati Bengals lose QB Joe Burrow with sprained wrist in loss to Baltimore Ravens. Ravens TE Mark Andrews is also injured. 

Full transcript: 
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. President Biden has ended the immediate threat of a government shutdown. He has signed a temporary spending bill that extends government funding into early next year. Bloomberg's Amy Morris has the details from Washington. President Biden signed the legislation yesterday while in California for a summit of APEC leaders. The bill maintains existing funding levels and pushes a fight over the federal budget into the new year. When Housublicans say they will push for stiff spending cuts. It splits the deadlines for passing full year appropriations bills into two days January nineteenth for some federal agencies February second for others. This short term package allows lawmakers to regroup over the Thanksgiving holiday while talks continue on spending in policy agreements in Washington. I maye more as Bloomberg Radio, Sorry, Amy, thanks by the stopgap bill does not include funding for Ukraine and Israel. In fact, new usaid for Ukraine risks slipping to mid December and maybe longer, casting doubt on Washington's ability to keep up the flow of weapons that both the Biden administration and the Ukrainian governments say is vital as soon as Congress could complete negotiations and pass new Ukraine assistance his mid December, nearly two months after President Joe Biden first requested sixty one billion dollars for the country in its war against Russia. Well, now, Karen, let's turn to the latest on the war in the Middle East. Israeli Prime Minister Benjamin Natanyahu is defending his country's raid on the Alshifa Hospital in Gaza City. He says, Israeli troops uncovered a Hamas command center underneath the facility. We had concrete evidence that there were terrorists chieftains and terrests. There are terrorists minions in the hospital, and in fact they fled as our forces approached. They fled. That's why we had no firefight. We entered that hospital with Arabic speaking Israeli doctors with incubators and we had no firefight. But Hamas was using the patients in that hospital as a human shield. Prime Minister n Antanyahu spoke on the CBS Evening News. Meanwhile, the Israeli military says it has taken control of Gaza's harbor. People in the southern city of Conyunis say Israel has dropped leaflets telling them to seek shelter and sirius as it's intercepted some Israeli missiles aimed at targets in Damascus. Well back in the U, asked Nathan. The Asia Pacific Economic Cooperation some it is wrapping up in San Francisco, and we're learning more about President Biden's deal with China's Sheshin Ping to crack down on Fentanel. The White House agreed to remove a Chinese organization accused of human rights abuses from its sanctions list change for Beijing's WHO operation about an administration official tells Bloomberg taking the Institute of Forensic Science off the Commerce Department's entity list was the only way for the US to make progress on the Fentandel crisis, and at the APEX Summit, Karen the CEO of Alphabet, said he expects China to be at the cutting edge of artificial intelligence development. Speaking with Bloomberg, Soon Darpshai warned the world's two biggest economies will have to work together on developing a framework for AI. My senses, there is no way you make progress over the long term without China and the US deeply talking to each other on something like AI. So I think that has got to be an integral part of how you make progress. So I think I'm glad to see it, and you know, we have to lay the foundations. The good thing is we are still in early days of the technology. Alphabet CEO Soon Darpuchai's comments come after business titans including Apples, Tim Cook, and Black Rocks Larry Fink, attended dinner with China's president on the sidelines of the APEC summit. Well, Nathan, we're seeing fall out this morning from Elon Musk's endorsement of an anti semitic social media post. A Tesla investor is calling for must to resign, and IBM has now suspended its advertising on X because of the proximity of its ads to Nazi posts. Bloomberg's Ed Baxter has the story. This comes amidst a swirl of controversy surrounding X and Elon Musk. In the past couple of days, watchdog group Media Matters reported out that IBM, Apple Oracle, Exfanity, and Bravo all had a placement. IBM opted off, saying IBM has zero tolerance for hate speech and discrimination. Meanwhile, the White House has reacted to a Musk post so that it says is anti semitic. NC spokesman John Kirby, we certainly abhorror comments that are anti Semitic in tone and certainly don't associate ourselves with the comment. Musk endorsed a post that said the Jewish community pushed hatred toward whites in San Francisco. I'm at Baxter Bloomberg Radio, okay, and thank you. Moving to mark It's now we're watching shares of applied materials in the pre market. They're down more than seven percent. Reuter's is reporting the largest maker of chip making machinery in the country is facing a criminal investigation for allegedly violating export restrictions to China. The report says the Justice Departments looking at whether Applied Materials sold hundreds of millions of dollars of equipment without the proper licenses. And Nathan, the escalating fight between the US and China, where technological dominance has triggered one of the most stunning reversals of corporate strategy yet. Ali Baba Group has walked back plans to spin off in list it's eleven billion dollar cloud business. Ali Baba shares dropped nine percent yesterday, wiping out more than twenty billion of market value. On the flip side, Karen Watching shares of Gap they are hired by more than eighteen percent. The retailer reported third quarter profit that exceeded forecast. Same store sales fell for a fourth straight quarter, but that decline was less than expected. Stronger results at Old Navy, GAP's biggest brand offset weakness at Athleta and Banana Republic. Crude oil has collapsed into a bear market Nathan. It's down twenty percent from its September high. CRUs run of four straight weekly decline so long as losing streak since May has come despite collective and voluntary supply cuts by the Organization of petroleum exporting Countries and its allies. The losses have also been embedded by the evaporation of an Israel Hamas war risk premium as fears the conflict would expand and disrupt oil supplies have so far not materialized. And it's time now for a look at some other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. The pressure is building for New York Congressman George Santos to resign or face expulsion. It follows a scathing House Ethics Committee report. Bloomberg's Nancy Lyons has that story. Committee Chairman Michael Guest says the evidence uncovered in the House investigation is more than sufficient to warrant punishment, and he plans to file an expulsion resolution. Wisconsin Republican Congressman Brian stone File tells Bloomberg's sound on the findings are alarming. The illegal actions that are set forward in this report are incredibly concerning. The report alleged Santos used campaign money to pay off his personal bills and to make luxury purchases. Santos responded to the report saying he would not run for reelection in Washington. Nancy lyons Bloomberg Radio and that expulsion resolution Nancy was talking about is expected to be filed by nine o'clock this morning in Washington. A New York appeals court says the gag orders imposed on Donald Trump by the judge in the state's civil fraud trial against him are unconstitutional, and the restrictions were put on hold pending for their arguments. The decision is a major win for Trump, who has publicly lambasted the judge overseeing the case and accused him of frampant bias. This is just one of six trials Trump is facing as he seeks re election. California officials say a section of Interstate ten in Los Angeles that was damaged in a fire last week will reopen earlier then expected. Governor Gavin Newsom's said the mile long stretch of interstate will be open to traffic again weeks ahead of time after the state doubled the crews working on those repairs. One thing we can guarantee you is we will be opened five lanes in both directions at the latest Tuesday of next week. Fire officials say the fire was deliberately set in an arson investigation is ongoing. Secretary of State Antony Blincoln yesterday signed a civil nuclear cooperation agreement with the Philippines. At the signing ceremony, Secretary Blincoln said it is part of the US support for clean energy projects there with the Philippines leadership, we're also working together to develop a nuclear energy sector in their country to fuel a reliable, secure, and affordable clean energy future. The agreement allows the US to legally export nuclear equipment and material to the Philippines for peaceful uses. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen, all right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg. But now, as Amy said, you can get the latest news on demand whenever you want it. To subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. It is time now for the Bloomberg Sports Update, and here's John stash Hour, John Karen. Big game in the AFC North the kickoff week eleven the Bengals and the Ravens. They both had four game industries come to an end this past Sunday. All the More started things off with a seventy five hour touchdown drive. The Ravens then trailed in the second quarters. Edwards in the backfield. Lamarta throw fires down the middle, It's deflected at part, have a reflection Milsan Hagalore twenty fifteen come bo. Heflected for six. Hagle a deflection rave into the end zone Wbal. About a minute a half later, another Lamar Jackson TD passed. The Ravens beat the Bengals thirty four to twenty. Baltimore's eight and three and in first place. Cincinnati is just five and five and in the last place NBA and Miami. They he won their seventh in a row. Jemmy Butler scored thirty six in a win over Brooklyn. Oklahoma City made it five to last six, winning one twenty eight one to nine at Golden State. The Warriors have lost five in a row. They're just one and five at home. They went thirty three at and eight at home. Last year. They rode out the injured Steph Curry and without the suspended Draymond Green. MLB owners approved thirty to nothing in the move of the Oakland A's to Las Vegas, and they waive the relocation fee. The A's will be in Oakland in twenty twenty four, but the plan is to beat a new stadium in Vegas by twenty twenty eight. It's unclear where they might be playing in between. It's the first time an MLB team has moved in Montreal. Expos went to Washington in two thousand and five. Baseball has given the twenty twenty five All Star Game to Atlanta, who had it taken away after that voting law was passed in twenty twenty one. John Stasha our Bloomberg Sport from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on SYRIASXAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg daybreak, Good morning, I'm Nathan Hager. China will be at the forefront of artificial intelligence. That's what the CEO of Alphabet soon Dar Pashai, is saying. He says it is important for the US to collaborate with China on both regulation and innovation when it comes to AI. Pieshai, along with executives from Microsoft, City Group and Tesla, have been meeting with Chinese President Shi Jinping and US President Joe Biden at the APEX summit in San Francisco. After those meetings, the Alphabet CEO joined Bloomberg's Emily Chang and told her the world's two biggest economies do need to work together on AI regulation and development. It's not going to be easy, but I would start from this PREMI is that AI will proliferate, So this is not the inherent nature of software. AI advances will get out to in all countries, and so it is naturally the kind of technology. I don't think there's any unilateral safety to be had. We all have a shared incentive to solve for safety. You know, you could have AI go wrong in one country that will impact every other country. So in some ways, it's like climate change. In the planet. We all share a planet. I think that's true for AI. So now that you know that that will be true, I think you have to start building the frameworks globally to make progress. I've seen encouraging progress when the G seven happened in Hiroshima, I think it was a good start. You've seen more progress the Uki summit last week. The administration here, the White House has been leading the way as well, and I saw good encouraging announcements even yesterday for US in China to start having a dialogue on AI, well, that was my next question. Should Chinese regulators be part of this conversation on AI regulation? My sense is there is no way you make progress over the long term without China and the US deeply talking to each other on something like AI. So I think that has got to be an integral part of how you make progress. So I think I'm glad to see it. And you know, we have to lay the foundations. The good thing is we are still in early days of the technology, so laying the foundations now will allow us to work through the tough issues and build a common framework over time. How do you think AI? And obviously the US presidential election coming up as well. How do you think AI is going to further test election integrity? I think you know, over time, it's going to lower the barrier for creating you know, artificial information which may or may not matror what's happening in the real world, right, and that barrier will come down. So in this cat and mouse game, how do we amp up our defenses against that. We are in early stages, right. You know, we were one of the first companies to announce a water marketing technology for image generation. It's called Synthide, done by deep Mind, and we are providing API access to it. But all of us need to tackle it. These are areas where regulation will have to play a role, right. I think governments will have to overtime pass regulations about what is okay for you some of this synthetic content and so, which is why I think you have to think about it together. Open AI CEO Sam Mollman has said repeatedly he wants to know more about what's happening with AI in China. What do you know and what do you not know about where China is on AI. From what I can tell, they're making deep investments in AI. The scale of AI research talent in China. It's just simply astounding to see. So I think, you know, in some ways this question, China is going to be at the forefront of AI, and you know, I think that's a given. And so the question is how do we work over time, both for you know, other countries to make sure you're making progress in AI and over time, how do we develop the frameworks where you know, countries can coexist peacefully in a world in which AI will be you know, everywhere. You know, President Biden actually just said he doesn't see the USD coupling with China, but the world does seem to be on a path to two separate internets. Do we continue in that direction? And what does that mean? It's tough to say. You know, things go through in phases. I think we are definitely in a phase where there are more forces pulling it apart. But you know, inherently these technologies also facilitate easy exchange of information, so I think there are countervailing forces as well, So I think it's tough to predict. I do think information wants to flow freely by nature, So you know, my hope is over time, you know, thanks to couple back again. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak

See omnystudio.com/listener for privacy information.

On today's podcast:

1) Presidents Joe Biden and Xi Jinping emerged from their first meeting in a year betting that a handful of small victories will arrest a surge in US-China tensions that has unnerved neighboring nations and threatened global economic growth.

2) President Joe Biden said he still believed his Chinese counterpart Xi Jinping was a dictator, casting a shadow over what both sides had characterized as their most productive meeting to date.

3) The US Senate overwhelmingly approved a temporary funding measure to avert a government shutdown, delaying a partisan clash over federal spending until the new year and leaving out emergency aid to allies Ukraine and Israel.

4) The Cleveland Browns announce QB Deshaun Watson is out for the season.

Full transcript: 
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the high stakes meeting between Presidents Joe Biden and she Jinping. They met for more than four hours on the sidelines of the APEX summit in San Francisco. President Biden called his discussions with China's leader some of the most productive he's ever had. I've been meeting with President Sheeshu's both us for vice president over ten years ago. Our meetings have always been canda stradeforward. We haven't always agreed, but they've been straightforward, and today build on the groundwork related over the past several months of high level diplomacy between our teams, We've made some important progress, I believe, and President Biden's words were echoed by President she China is ready to be a partner and friend of the United States. The fundamental princippos that we follow in handling China US relations are mutual respect, peaceful co existence, and wing wing corporation. China's president spoke there through an interpreter, but after the gathering, President Biden was asked whether he still considers China's leader a dictator. Look, he is. I mean he's a dictator in the sense that he is a guy who runs the country. That is collin Cocu based on formagart totally different than ours. And after President Biden's remark, China's Foreign ministry called the statement extremely incorrect and irresponsible political manipulation. Well Nathan asked for the actual meeting, Both Biden and Shi jinping Is say they reached a number of agreements. Bloomberg's ed Baxter has that part of the story, as well as fentanyl. High on President Biden's list is opening communication between the country's militaries. We're reassuming military to military contact direct contacts. As a lot of you press know follow this that's been cut off and it's been worse, and that's how accidents happened. Biden also saying the two agreed on finding ways to control ai Biden also says he was assured that China has no plan to invade Taiwan. Now. She did say that he told Biden that the US should not have plans to suppress China and also ask for sanctions to be removed. In San Francisco, I'm at Baxter Bloomberg Radio, and thank you. Some of Wall Street's elite attended dinner with Si Jinping. Black Rocks Larry Fink and Stephen Schwartzman of Blackstone were among the top executives seated at the Chinese leader's table, according to a program seen by Bloomberg News. Other big names and attendance were Apple's Tim Cook, Bridgewater associates Ray Dalio, and Pesla says Elon Musk also met with President she yesterday. Well Nathan some major developments out of Washington to avoid a government shut down. In a late night vote, the Senate overwhelmingly approved the House's short term spending bill. Bloomberg's Amy Morris reports from Washington. President Biden is expected to sign the bill that will extend government funding at current levels through two deadlines, one in mid January, the other in early February, but the bill did not include aid for Israel nor Ukraine. Senate Majority leader Chuck Schumer says that will be lawmaker's next priority after the holiday break. Both sides genuinely care about approving aid to Israel and Ukraine and helping innocent civilians in Gaza, so I hope we can come to an agreement even if neither side gets everything they insist on. And now the risk of partial government shutdown moves to January as House Speaker Johnson faces criticism from within his own party because he did not include deep spending cuts or changes to immigration policies. In Washington, Amy Morris Bloomberg Radio, Thank you. We now turned to the latest developments in the war in the Middle East. The Israeli military says it found a Hamas command center, weapons and technological assets at the Alshifa Hospital in Gaza City. Middle Eastern countries, including Jordan and Turkey, have condemned the raid. Israeli Prime Minister Benjamin Netanyahu, speaking through an interpreter says he makes no apologies for sending troops in. But we were told that we would not reach the outskirts of Gaza city. We arrived. We were told that we won't end to Shifa, but we entered, and in this spirit we say simple thing. There is no place in Gaza that we will not reach. Prime Minister Natanya, whose comments come as The Washington Post reports discussions are underway on a potential deal that would see Hamas free fifty women and children hostages in exchange for an extended pose and fighting, and the release of some Palestinians held in Israeli prisons. Well, Nathan, we turned to the markets now, and shares of Cisco plunging, the drop coming after it gave a disappointing forecast. We get more from Bloomberg's Doug Prisner CEO Chuck Robbins, who's trying to rea doue Cisco's dependency on one time sales of equipment by pushing deeper into software and services such as security. But the transition isn't complete enough to cushion Cisco from smaller corporate budgets, and the company is now projecting the weak environment. Will Linger because customers are taking a break from new orders to installed gear they've already received. In New York, I'm Doug Prisner, Bloomberg Radio. All right, Doug. Thanks, and Cisco's shares are down nearly eleven percent in the pre market. Earnings continue this morning, with the nation's biggest retailer reporting. Get a preview of that from Bloomberg's Tom Busby. Walmart's expected to report that sales growth slow to four percent last quarter. That's less than half the pace from just a year ago as consumers pulled back on their discretionary spending, but sales of food and healthcare products should be resilient and outpaced demand for that general merchandise adjusted ernis per share estimated to be a dollar fifty two total revenue of one hundred and fifty nine point one three billion dollars. Tom Buzby, Bloomberg Radio, all right, Tom, Thanks. Well. In Europe, shares a Berber down almost nine percent. The UK luxury retailer is warning this year's revenue target maybe out of reach after sales barely grew in the most recent quarter. And Karen, we have a big deal for chocolate lovers this morning. US Candy company Mars, has agreed to buy the UK's Hotel Chacalott Group for more than six hundred and sixty million dollars. That price tag represents one hundred and seventy percent premium to Hotel Chachalot's closing price yesterday. All right, Nathan, thanks, it's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. US. Capitol police officers say one person was arrested following protests outside Democratic National Convention headquarters in Washington, DC as part of a pro Palestinian rally. Protesters got into a shoving match with Capitol police officers that arrest being made for assault. Six Capital officers also suffered minor injuries. Pepper spray was used on protesters and DNC members were evacuated. Billionaire Elon Musk endorsed an anti Semitic post on x the social media site that he owns, that attacked members of the Jewish community for pushing dialectical hatred against white people. Musk said in his reply to the post, quote you have said the actual truth. Musk has repeatedly been criticized for promoting content attacking Jewish people at a time of rising anti semitism. After a year of strikes in Hollywood and the auto industry, now it's Starbucks turn. The union representing thousands of Starbucks workers is staging a one day walk out today, coinciding with the Red Cup Day. It's one of the coffee chain's busiest days of the year. Daisy feederspiel Bayer is a supervisor in Seattle. I really wish that I could be in there serving you coffee. I do, but with the drastic understaffing and the toll that that takes on our barista's Unfortunately, we have to push for better and we aren't getting that from Starbucks right now. Starbucks Workers United represents nine thousand employees at three hundred and sixty stores. They want better wages, benefits, and the right to bargain. The Thanksgiving travel rush is about to begin. Bloomberg's Nancy Lions with the latest The Transportation Security Administration says the official travel window lasts twelve days, beginning Friday and running through to the Tuesday after Thanksgiving. During that time, the TSA expects to screen twenty eight million passengers. John Bush is Federal Security Director for the TSA. The best tip we can offer is to ask everyone to arrive early for your flights. The recommendation is always two hours before domestic flight three hours before an international flight, and that's going to be even more important this coming holiday weekend. Bush says they do have the staffing and the technology in place to ensure that everything runs smoothly. In Washington. Nancy lyons Bloomberg Radio Global news twenty four hours a day and whenever you want it with Blueberg News Now, I maybe Morrison, this is Bloomberg Karen Amy. Thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour. John Daren should be a good Thursday night game to kick off Week eleven in the NFL. It's an AFC North battle between the Bengals and Ravens in Baltimore. Both teams at four game winning streaks come to an end this past Sunday, losing right at the end of their game. Cincinnati beaten by Houston, and the Ravens blew a two touchdown lead and lost to Cleveland. The Baltimore quarterback is Lamar Jackson. Every game is a musk win for us, you know, not just cousin is in a division game, but we we definitely, I believe our team is definitely a lot hungrier just for more happened Sunday in a division loss in the closed game. We definitely hungry as well. So the Clinton Browns had that big win in Baltimore, led by their quarterback Deshaun Watson. He was fourteen to fourteen of the second half. He battled an ankle injury, and yesterday it was learned that his season is over because of a fractured shoulder. He needs surgery. He's had shoulder problems before. Justin Fields has been out three games with the thumb injury in Chicago. He's expected to return on Sunday NBA in Philadelphia, Battle in the East and the Celtics beat the Sixers one seventeen to one oh seven. Facing Tatum led the way twenty nine points, eight rebound, six assists. The Celtics are nine and two. The Sixers were eight and one. They've now lost their last two. Milwaukee beat Toronto for the new Buck Damian Lillard thirty seven points thirteen assists. The Wizard struggles continue a home loss to Dallas one thirty to one seventeen. The MAVs are nine and three. The Wizards are two and none. The Knicks but one by two in Atlanta. John stash That were Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We've made some important progress. We heard those words from President Biden after his first meeting in more than a year with the leader of the People's Republic of China, Shi Jinping. President says two leaders are restoring military to military communications and they plan to keep talking at the highest levels in the United States, will continue to compete vigorously at the PRC, but will manage that competition responsibly so doesn't veer into conflict for accidental conflict. That was President Biden after his more than four hours sit down with China's leader on the sidelines of the APEX summit in San Francisco, and joining us with more from Singapore is Berg News Managing editor Derek Wallbank. Derek, it's good to have you back with us this morning. Going into these talks, the White House said just talking would be a deliverable. What kind of deliverables can we say We're gleaned from this gathering between Presidents s Biden and shape Well, Nathan, they certainly talked. You know. Yeah. It's funny because in that relationship here, we've seen ebbs and flows between real, real static, real problems, and and times when it has seemed maybe a little bit sunnier, maybe a little bit more placid. I borrow an observation that Singapore's Foreign minister made last week at the Bloomberg New Economy Forum here in Singapore, which was that you shouldn't on US China relations confuse weather with climate. Things might look a little bit more peaceful right now, certainly in the face of this meeting that seemed to go mostly okay, But the for all climate of the US China relationship is still one with a lot of tension points. There were not major fundamental issues resolved here. This is not like we have a giant breakthrough on Taiwan, for example. So so whether a little bit nicer climate overall still very much progressing in the in the in the ways that it was sticking with the weather analogy, I guess maybe one dark cloud in that otherwise sunny gathering could be that question that the President received from a reporter when asked whether he still considers China's leader a dictator, and he basically said yes, he did, he said, he said emphatically yes. And and look, this is one of those things where China does take offense to this. You know, they don't like the term, they don't like it being used about them. But at the same point, the thing I think that bears watching is whether or not China blow it up into a whole big thing and says, right, well, this is some offense and we want to change the tenor of our leader to leader engagement or the relationship more broadly, it doesn't initially seem like that is happening. Remember Joe Biden said this before, and we're still on a path where they've gone to me, she went to the United States. That's actually something that's a big symbol for this meeting. So I'm not sure that that's necessarily going to derail everything here. Where I think it's much more likely if you were looking for risk problems is to look in the South China Sea, specifically off the coast of the Philippines, and some of the territorial disputes that are there, some of the trade disputes that are there. Those are places that I think are potential fracture points. But look, if you're sitting there saying are things a little bit better in the relationship between China and the US than they were this time yesterday, the answer is yes, they are a little bit better. You're going to see maybe some small tangible things including possibly, let me say, you might see some pandace come back to the US. We did hear that mentioned right by the leader of China. But when it comes to those small steps in our last minute here, Derek, what are some of the broader issues that could still lead to some of these overarching tensions that we do continue to see between the US and China. Well, I think, you know, on the good side, you've seen that the US and China are trying to do a little bit more on reducing fentanyl. On the good side, you are seeing Biden said they're agreeing to talk a little bit more military to military, and Biden said that they had an open line between the two of them. If one calls the other, they'll pick up the phone. But I do think on that broad thing, that the broad issue of trade, the broad issue of of China's state craft and military ambitions, those are real fracture points, and those are as I say, structural climactic fracture points, and that's going to be something that these two countries are going to have to very carefully manage going forward to make sure that they don't actually escalate. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak 

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