ICE Shakeup in Minneapolis, Amazon Closing Physical Stores, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris. Some changes may be coming to immigration and customs enforcement. With the fatal shooting of two U.S.
What recent changes are being proposed for ICE in Minneapolis?
citizens by ICE agents in Minneapolis, even some of President Trump's strongest supporters are taking a step back. Texas Governor Greg Abbott says ICE needs to change its approach.
Go about their job in a more structured way to make sure that they are going to be able to remove these people without causing all the kinds of problems and fighting in communities that they are experiencing right now.
Border Patrol official Gregory Bovino and some Border Patrol agents are expected to leave Minneapolis today. White House Border Czar Tom Holman is now leading the Minneapolis operation, where he'll meet with Mayor Jacob Fry to discuss coordination between federal and local law enforcement. The chief federal judge in Minnesota has ordered the head of Immigration and Customs Enforcement to appear in court to explain why he should not be held in contempt. Now, the case involves a man who was brought to the U.S. as a child more than 25 years ago, but was detained by ICE earlier this month. The judge ordered ICE to release him on bond, but he's still being detained. The judge says there are dozens of similar cases where federal officials are not complying with judges' orders.
He wants the acting director of ICE in his courtroom by Friday to explain. President Trump's crackdown on immigration has contributed to a year-to-year drop in the U.S. growth rate. Population estimates from the Census Bureau show the nation's population hit 342 million people last year. That's a half percent growth rate. And it's a sharp drop from the year before, which saw a one percent growth rate, the highest since 2001, mostly fueled by immigration. Everything that's happening in Minnesota risks drowning out President Trump's pivot to the economy. He's visiting Iowa today to focus on affordability. President Trump will make a stop at a local business and then deliver a speech in a suburb of Des Moines, with the trip also highlighting energy policy.
Amazon says it's shutting down its Amazon-branded grocery stores and automated grab-and-go markets, shuttering two centerpieces of its push into the physical retail. The company says in a blog post that Amazon Fresh and Amazon Go stores will close, with some locations converted into Whole Foods market stores. Bloomberg's Ed Ludlow.
The commitment from Amazon is very much to grocery in the context of sub-same-day. Foot traffic's been falling away on these early locations.
The company says it would work to help store employees find other jobs within Amazon. The moves mark the e-commerce giant's latest retreat from its brick and mortar retail efforts. Shares of major U.S. insurers tumbled after the U.S. proposed holding payments to private Medicare plans flat next year. A spokesman for insurance group AHIP says that could mean fewer benefits and higher costs for 35 million seniors and people with disabilities. Shares of UnitedHealth are 19% lower. CVS shares fell 12%. Humana shares right now down 20%. Wall Street traders sending stocks closer to all-time highs on speculation that solid corporate earnings will keep powering market gains. We check those markets for you all day long here at Bloomberg.
The S&P 500 up 0.5%. NASDAQ up 1%. The Dow is down 0.6%. The 10-year Treasury yield at 4.21%. The 2-year yield at 3.57%. The dollar slid to its weakest level in nearly four years, now down 0.9%. Shares of General Motors have advanced to 9% as the automaker says its profits will grow up to $2 billion this year thanks to sales of more big trucks and SUVs and fewer electric vehicles. We spoke with GM CEO Mary Barra.
I think the consumer is very rational when they're making a decision about what car to buy. Let's remember it's one of the most important and expensive decisions that they make. And one of the things we have to continue to work on to drive EV adoption is a more robust charging infrastructure.
GM CEO Mary Barra spoke with Bloomberg Hot Pursuit host Matt Miller.
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