Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump's trying to woo oil executives to invest in Venezuela, but not everyone's on board. ExxonMobil CEO Darren Woods was one of about 20 executives who met with the president at the White House yesterday, and he's skeptical.
Chapter 2: Why is ExxonMobil hesitant to invest in Venezuela?
We've had our assets seized there twice, and so you can imagine to reenter a third time would require some pretty significant changes. Trump has said oil companies will have total safety, but Energy Secretary Chris Wright tells Bloomberg U.S. troops aren't part of that plan. President Trump, of course, never rules out options, but that is definitely not in the plans. That is not the plan.
The plan is to use the military power that's manning the blockade of the oil so we can stop the criminals and stop our adversaries from taking oil out of Venezuela and have a more orderly, safe process from what's going on. Energy Secretary Chris Wright on Bloomberg's balance of power.
He says oil production could be ramped up by the summer and companies could be pumping 3 million barrels of oil a day over the next 8 to 12 years. Ukraine's President Volodymyr Zelensky says he's discussing a potential free trade agreement with the U.S. aimed at helping Ukraine's recovery after its war with Russia.
Zelensky says he wants to personally discuss specifics with President Trump just in case Russia renews aggressions. He's seeking something more concrete than mere promises. Iran's attorney general warns anyone participating in protests against his government will now be considered an enemy of God and face death penalty charges.
Arash Azizi is a contributing writer for The Atlantic and says Iran's opposition is emboldened by what's happened in Venezuela. The fall of Maduro was important because the regime lost its most important global ally. President Trump's promise to intervene if deadly clashes continue. At least 65 people have died.
Protesters in Minneapolis made noise all night in hopes of driving ice out of the city following Renee Good's shooting death. Today, Democratic Senator Amy Klobuchar of Minnesota sent a message to protesters. I feel like some things are being said to try to trigger us, and people should not take the bait. They should not take the bait.
They should listen to Renee Good's wife's words, which is, you know, go with compassion, don't go with hate, don't take the bait here. Klobuchar also says she's implored federal investigators to collaborate on the shooting investigation. So far, they've barred state and local officials from accessing evidence in the case. But White House officials linked new body cam video online.
They say it shows the officer feared for his life and acted in self-defense. President Trump's calling for a one-year cap on credit card interest rates at 10% starting January 20th. The president didn't give many details but wrote on social media, the American public will no longer be ripped off by credit card companies that are charging interest rates of 20 to 30% or even more.
It's not clear whether companies will respond or what actions Trump could take to force change. A judge has ruled the Trump administration cannot stop child care subsidies. Here's Bloomberg's Ed Kalecki.
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Chapter 3: What are the implications of U.S. military involvement in Venezuela's oil production?
Bloomberg's Nathan Hager explains from Washington. Bloomberg News has learned Commerce Secretary Howard Ludnick met with home building executives in recent weeks, sounding them out on how to make homes more affordable, including the kinds of incentives they'd want to build more homes.
This week, President Trump moved to ban institutional investors from buying single-family homes, and he directed Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. The White House says it's part of an overall housing plan the president will announce at Davos later this month. In Washington, I'm Nathan Hager, Bloomberg Radio.
The latest jobs report showed just 50,000 jobs were added in December with health care, social assistance and restaurants and bars adding the most new workers. The unemployment rate fell back to 4.4 percent after the end of that record long government shutdown. And it looks like President Trump's cuts to the federal workforce hit every major agency last year.
Bloomberg's Amy Morris has the numbers and more on who took the brunt of downsizing in Washington. Data from the Office of Personnel Management show more than 322,000 employees left federal service since Trump took office, with departures outpacing new hires by more than three to one. The federal workforce declined by about 219,000 on a net basis.
That includes hiring, with some of the biggest cuts coming from departments like Defense, Veterans Affairs, Treasury and Health and Human Services. Only 3% of the departures came as a result of reduction in force layoffs, although more could still come depending on the outcome of court cases. In Washington, Amy Morris, Bloomberg Radio.
The Washington National Opera is leaving the Kennedy Center after more than 50 years. A rep for the arts venue says the decision was based on budget challenges, but this marks the latest high-profile departure following President Trump's takeover. And that's news when you want it with Bloomberg News Now. I'm Monica Ricks and this is Bloomberg.
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