Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. There is a new wave of uncertainty after the Supreme Court struck down President Trump's emergency tariffs. Today on Truth Social, the president said he'll put much higher tariffs on countries that, quote, play games with a high court ruling.
And now we're being told the White House is working to issue a formal directive to increase the global tariff rate to 15%. However, it's not clear if that order will be finalized before the 10% levies are set to go into effect Tuesday at 12.01 a.m. ET. Separately, the Trump administration is reportedly considering new national security tariffs.
The Wall Street Journal reports these levies would target industries such as large-scale batteries, as well as power grid and telecom equipment. They would be enacted under a separate statute. And at the same time today, FedEx filed a lawsuit in the U.S. Court of International Trade seeking a refund of those emergency tariffs after they were invalidated by the Supreme Court.
Paramount Skydance raised its bid to buy Warner Brothers Discovery. We are told the new offer improves on the $30 a share all cash proposal made directly to Warner Brothers shareholders back on December 8th. Now, the revised Paramount offer also addresses some of Warner's earlier concerns. Here's the rub.
Back in December, Warner agreed to sell its film and TV studios, along with the HBO Max business, to Netflix. And if Warner's board sees the new Paramount offer as superior, Netflix will have four days to respond. A powerful winter storm buried New York City in one of its 10 snowiest days on record. The storm disrupted transportation across the Northeast as well.
Bloomberg weather reporter Lauren Rosenthal says we're not out of the woods yet.
There are chances of some sort of slippery winter mix later in the week, and some forecast models have hinted at the possibility of another nor'easter next week. However, this far out, it's difficult to say with certainty whether we will see another significant snowstorm.
That is Bloomberg's Lauren Rosenthal. Now, in New York City, Mayor Zoran Mamdani lifted the travel ban put in place Sunday night at 9 p.m. That directive closed streets, highways, and bridges. U.K. police have arrested former British Ambassador to the U.S.
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Chapter 2: What recent changes have occurred in U.S. tariff policy?
Peter Mandelson on suspicion of misconduct in public office. This comes after the U.S. Department of Justice released emails allegedly showing Mandelson forwarding government information to Jeffrey Epstein. Police searched two properties linked to Mandelson as part of their criminal probe.
His arrest deepens the crisis, engulfing British Prime Minister Keir Starmer over his decision to appoint Mandelson as U.S. envoy despite known links to Epstein. Mandelson has not been charged, and his lawyer has declined to comment. The equity market pulled back today on renewed anxiety over the impact of AI, as well as uncertainty on U.S. tariff policy. We had the S&P 500 down 1% today.
Shares in IBM tumbled 13%. That was after Anthropic said its Claude Code tool can help modernize the COBOL software language. Here's the thing. Most of the mainframe computers that run COBOL are made by IBM. Elsewhere, when it comes to the impact of AI, Nassim Taleb, author of The Black Swan, expects bankruptcies for software companies.
The effect on the stock market, as you realize, the previous rally that we had was driven by a very small number of names. And now we probably have some broadening, re-broadening effects on redistribution. But a lot of the gains in the stock market are going to be eradicated by that. So this is why we're at a juncture of a lot of instabilities across many domains.
That is Nassim Taleb speaking to Bloomberg in Miami. Anthropic is offering some current and former employees the ability to sell shares in the company at a valuation of about $350 billion. We are told Anthropic is lined up between $5 billion to $6 billion for this share sale.
Outside investors will buy insider shares in a tactic that has become important in a competitive landscape for hiring in artificial intelligence. On Wednesday, we'll get results from NVIDIA after the bell. We have a preview from Bloomberg's Charlie Pellett.
It'll be closely watched as always, and it is the next test for artificial intelligence. John Vinn is an equity research analyst at KeyBank. He's got an overweight rating on the stock, along with a $275 price target.
As memory has outperformed early in the year, I think a lot of investors are going to come back to kind of the leaders in AI. And I think NVIDIA is well poised to start to outperform
Shares are now at $191, and Barclays says NVIDIA's earnings will be seen as a make-or-break moment for big tech's mediocre season so far. In New York, Charlie Pellett, Bloomberg Radio.
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Chapter 3: How is FedEx responding to the Supreme Court ruling on tariffs?
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All the stories that hit home on your days off. And I'm Lisa Matteo. Watch and listen to Bloomberg this weekend for thoughtful, enlightening conversations about business, lifestyle, people, and culture.
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