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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Amy Morris. The partial government shutdown ending just four days after it started. The House passing a bill to fund most of the federal government through September 30th. It also provides short-term funding for the Department of Homeland Security for two weeks. Bloomberg's Megan Scully says there's a reason Democrats supported the measure.
In the broader spending bill, it overturns some doge cuts, including cuts to medical research, particularly cancer research. And there are a lot of programs in there that Democrats do support, which is why you saw the support in the Senate and then you saw some 21 or so Democrats in the House lining up behind it. The bill now goes to President Trump, who says he'll sign it. The U.S.
has shot down an Iranian drone as it was approaching a U.S. Navy vessel. U.S. Central Command released a statement saying the drone, quote, aggressively approached the USS Abraham Lincoln with unclear intent. No American service members were harmed, but oil prices jumped. WTI up nearly 2 percent. Brent crude up one and three quarters percent.
Walt Disney Company announced that Josh DeMauro will succeed Bob Iger as CEO of the entertainment giant, ending a three-year search to replace its long-serving leader. The Walt Disney Company chairman, James Gorman, sat down with Bloomberg's Ed Ludlow to talk about those leadership changes.
We'll work with him as he settles into the job to lay out what the right strategic moves will be and how we're going to measure ourselves against those. So I'm highly confident in Josh and the team working with him. Walt Disney Company Chairman James Gorman on Bloomberg TV. Disney shares now 1% lower. A renewed tech sell-off dragged down stocks from near record levels.
We do check markets for you all day long here at Bloomberg. The S&P 500 down 1.3%. NASDAQ down 2.2%.
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Chapter 2: What led to the House passing a bill to end the government shutdown?
The Dow is down about 0.8%. The 10-year Treasury yield at 4.29%. The 2-year yield at 3.56%. Checking Bitcoin now it is down 4.6% trading at $74,800. Novo Nordisk shares more than 1% lower after that company said its sales will likely drop this year as its blockbusters, Ozempic and Wegovy, face more competition and the company gets hit by the government's push to cut drug prices.
PayPal shares are 20% lower after showing a fourth quarter profit miss and CEO Alex Chris is out after his turnaround plan failed to meet targets. Walmart shares are more than 2% higher. Its market capitalization passed a trillion dollars for the first time ever. Walmart's strong performance has led some market participants to wonder how much upside is left for those shares.
PepsiCo shares about 5% higher after that company announced it would cut prices for Doritos and Lay's chips by as much as 15% in a bid to lift sales by offering more affordable products. Builders are working on a plan for a massive program to develop up to a million homes to help address the U.S. affordability crisis while allowing private capital to deploy many billions of dollars.
Sources tell Bloomberg the proposal calls for builders to sell entry-level homes. into a pathway to ownership program funded by private investors. There are some concerns that the program would be hard to implement and it is possible it won't get enough support. The size depends on how many builders decide they'll participate. It's also being initiated by these builders.
One White House official says the Trump administration is not actively considering it. Federal Reserve Governor Stephen Myron says the absence of strong price pressures in the economy means interest rates, which he described as restrictive, should be lowered again this year. Myron dissented against the Fed's decision last week to hold rates steady in favor of a quarter percentage point cut.
When I look at underlying inflation, I don't really see a lot of very strong price pressures in the economy. I don't see a lot of strong supply-demand imbalances of the type that monetary policy should respond to. Myron told Fox Business the Fed is keeping rates too high in part because of how the Fed measures inflation.
The urgent search for the mother of Today Show host Savannah Guthrie continues. Authorities say they now believe 84-year-old Nancy Guthrie was abducted from her Arizona home early Sunday, kidnapped while she was sleeping. Pima County, Arizona Sheriff Chris Nano says the scene inside the home was grim. To be in your own bedroom, in your own bed, safe and secure in your own home,
And to be taken like that in the middle of the night, that is not Tucson. Nancy Guthrie was last seen Saturday night when family dropped her off at home. Her friends noticed her missing when she wasn't at church Sunday morning. That's news when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg. As a place to do business, the UK stands apart.
Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
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