Biden Urges Israeli Restraint; Biden-Xi Fentanyl Crackdown; Government Shutdown is Near
Description
On today's podcast:
1) Israel and Hamas trade accusations over Gaza hospitals and President Joe Biden called on Israel to take “less intrusive action” at the al Shifa hospital — the latest sign the US wants fewer civilian casualties. Israel says Hamas uses hospitals as bases for its operations.
2) Joe Biden and his Chinese counterpart, Xi Jinping, are set to announce an agreement that would see Beijing crack down on the manufacture and export of fentanyl, according to people familiar with the matter, potentially delivering the US president a major victory.
3) House Speaker Mike Johnson is counting on Democrats to overcome misgivings and approve his proposal to avert a US government shutdown.
4) Denver Broncos beat the Buffalo Bills on Monday night football
Full transcript:
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Let's get you caught up on what's happening in the Middle East. The focus is turning to hospitals in Gaza, where Israel accuses Hamas of housing command centers and weapons. President Biden says the Alshifa Hospital in Gaza City must be protected. I have not been reluctant and especially my concerns going on and is my hope and expectation that there will be less intrusive action role through hospital. President Biden's concern about civilian casualties is being answered by Israel's Economy Minister Near Barkat, do you understand that we have to wipe isis Comeaus off the map and we will do it with minimal collateral damage. This is our values. We don't need to be told that we know that ourselves Israelly Economy Minister Near Barcott spoke on Bloomberg Business Week. You can hear more of his comments on the BusinessWeek podcast. Download it wherever you get your podcasts. Well, Nathan. As the war goes on, tens of thousands of Israel supporters are gathering in Washington, d C. To show their solidarity. On Bloomberg's Amy Moore, supports from the nation's capital. Organizers are expecting up to one hundred thousand people to attend today's event on the National Mall Capitol Hill. Security will be boosted, access to the capital will be restricted. Roads are being closed. DC police have requested assistance from the National Guard and the Department and If Homeland Security has designated the march a Level one security event that's the highest rating of risk assessment. The FBI says there's no specific threat, but there is fear of loan actors attacking pro Israel demonstrators coming to DC. The event begins at one this afternoon on the National Mall in Washington. I maye more is Bloomberg Radio, Oka, Amie, thank you staying in Washington. This could be a critical twenty four hours in Congress's attempt to keep the government funded. Bloomberg Zed. Baxter has the story. House Speaker Mike Johnson says he'll bring the bill to the House floor in spite of negative reaction from the right wing of his party, who wanted spending cuts included. Senate Majority Leader Chuck Schumer has opened the door to a settlement for now. I am pleased that Speaker Johnson seems to be moving in our direction by advancing a cr that does not include the highly partisan cuts the Democrats have warned against. And President Biden also has often saying he'll wait to see The deadline is Friday midnight, add Baxter, Bloomberg Radio. All right, and thank you well. We turned to the economy now, and we get the first of two big readings on inflation this morning. With the consumer price index for October. Economists say inflation probably ease to an annual rate of three point three percent, and we get a preview from Bloomberg's crety GUPDA. There are some varied estimates here, but I think the takeaway is simply that some of the disinflation, the progress essentially that has been happening in the US economy when it comes to inflation, is going to slow down. So it's not that it's going to increase, but it's also not going to be making as much downward progress as we expect, at least has to take out of Bloomberg Economics, and I think that's the concern here for a lot of the people who are pricing in a more dubvish Federal Reserve, which is simply that this is going to be the key data point that suggests the Federal Reserve is not done hiking at all. You heard Chairman Powell last week hint at that and kind of say, well, we're going to be as hawkish as we need to be. This is the data point that might back that up. And Bloomberg's CRETTY group disays today's inflation data is not likely to shift traders views on the fits December meeting, days after the US was threatened with the loss of its last top credit rating from Moody's the Treasury Secretary is firing back. Janet Yellen spoke in San Francisco yesterday. This is a decision that I disagree with. The American economy is fundamentally strong, and Treasury securities remain the world's pre eminent safe and liquid ASCID Secretary Yellen's in San Francisco for meetings with finance ministers from across the Pacific, Rim Nathan. The big meeting from the Asia Pacific Economic Cooperation Summit comes tomorrow, when President Biden speaks with this Chinese counterpart, seson Ping. Bloomberg News has learned the two leaders will announce an agreement that could see Beijing crackdown on the manufacturer and export of fentanyl. We spoke about the opioid crisis with San Francisco Mayor London. Breed resources that are being sent out of China that come into either the US or Mexico are cut off to the fullest extent possible. That we work together in order to ensure that this deadly poison that is killing people in San Francisco in significant numbers and all over the country, that we're able to combat this to stop it. San Francisco Mayor London Breed says fentanyl has devastated her city like no other drug in her lifetime. Let's turn to some corporate news now, Karen, we have a takeover in the commodities industry. Switzerland's Glencore has agreed to buy a majority stake in Canada's tech resources coal business for more than six point nine billion dollars. The d ns a month's long saga and sets the stage for glen Core to spin off its own coal unit. Well, Nathan, a big week for retail earnings kicks off with Home Depot. We're reporting this morning, and we get a preview with the Bloomberg's Tom Busby. Home Depot forecast report a fourth straight quarterly decline at same store sales as the one to two punch of surging mortgage rates and record high home prices caused a slump in US home sales, putting it in to the home improvement boom we saw during the pandemic. Bloomberg consensus calls for comp sales to fall three point three one percent, of the decline in the US three point six seven percent. Still, net sales expected to be thirty seven point seven billion dollars, So just at earnings per share of three dollars seventy six cents. Tom busby Bloomberg Radio, All right, Tom, thanks back to commodities. The International Energy Agency says global oil markets won't be as tight as expected this quarter. IEA says sea supply tipping back into a surplus in the first half of twenty twenty four. Sorry, Nathan. Thanks. It's time now for a look at some of the o their stories making news around the world, and for that we're joined again by Bloombery sa Amy Morris Samy, Good morning, Good morning, Karen. There is growing concern about a possible government shutdown later this week, but that could also spell chaos for millions of Americans planning to travel during the holiday season. Without a deal in Congress by this Friday night, air traffic controllers and TSA workers could be forced to work without pay. And this is expected to be a record travel season. David Cymour, as chief operating officer with American Airlines, We're going to carry more customer than we ever have before, about a half a million more than last year. And House Speaker Mike Johnson has submitted a stopgap measure, but that doesn't include any money for Israel. Or Ukraine, and it doesn't have spending cuts that a lot of Republicans want. The US Supreme Court has adopted a new code of conduct, the first in the Court's history. Loyola Law School professor and former federal prosecutor Laurie Levinson says the adoption of the code itself is significant. There has been a great deal a criticism of the Supreme Court. Much of it has been focused on Justice Thomas and Justice Alito because they received gifts, they haven't made full disclosure of travel and other types of benefits, and so now we have a clear standard. But critics call the code itself toothless because it doesn't include a mechanism for enforcement. A former attorney for Donald Trump has testified against the former president and the Georgia election interference case. Jenna Ellis recounted a conversation with Dan Scavino, who served as Trump's deputy chief of staff. Video recording of that testimony was obtained by The Washington Post. He said, well, the Boss, meaning President Trump, and everyone understood the Boss, That's what we all called him. He said, the Boss is not going to leave under any circumstances. We are just going to stay in power. Trump's lead counsel in the Fulton County case says Ellis's testimony is absolutely meaningless. Ellis is one of four co defendants to plead guilty in that case out of eighteen people, and died it Alongside Donald Trump, the president of the United Auto Workers Union is headlining a hearing on Capitol Hill to talk about the resurgence of unions. UAW president Sean Faine, along with Teamster's president Sean O'Brien and Flight Attendance Union