Ed Kalecki

A federal judge ruled Friday that President Trump's administration cannot block federal money for child care subsidies and other programs aimed at supporting needy children and their families from flowing to five Democratic-led states for now.

California, Colorado, Illinois, Minnesota, and New York argued that a policy announced Tuesday to freeze funds for three grant programs is having an immediate impact on them in creating operational capabilities.

The states contended that the government did not have a legal reason for holding back the money from them.

Ed Kolegi, Bloomberg Radio.

News when you want it with Bloomberg News Now.

I'm Ed Kalecki.

Major U.S.

oil executives expressed caution to President Trump about re-entering Venezuela, even as the president pressured their companies to spend at least $100 billion to revive the country's production.

Trump convened nearly 20 industry representatives in the East Room of the White House Friday and predicted they could come to an agreement today or very shortly thereafter to restart operations in the oil-rich Latin American country following the brazen capture of President Nicolas Maduro.

U.S.

Energy Secretary Chris Wright was part of President Trump's meeting at the White House with major oil executives.

Wright did not give details on any potential deals, but says Chevron's

already on the ground there.

Wright also addressed security guarantees for these oil companies.

He says it's still too early to tell what security will look like, but insists U.S.

troops are not part of the plan.

Energy Secretary Chris Wright on Bloomberg's balance of power.

President Trump says 30 million barrels of Venezuelan oil is already on its way to the U.S., worth about $4 billion.

Venezuela's new leader is not backing down from her assertion that the U.S.

orchestrated an illegal kidnapping with its seizure of President Nicolas Maduro.