Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin in Minneapolis. That is where an immigration and customs enforcement officer shot and killed a woman during a confrontation. Bloomberg's John Tucker joins us with the latest. John.
Chapter 2: What happened during the ICE shooting incident in Minneapolis?
And Nathan, the shooting caught on video and shared widely on social media, happened during what federal officials described as a targeted operation. It shows a Honda pilot blocking part of the road as two federal agents approached. As one of them tried to open the door, the SUV backed up slightly.
A third agent then appeared in front of the automobile, and he fired at the driver as it began to turn and move forward. Homeland Security Secretary Kristi Noem calls it self-defense and domestic terrorism.
The ICE officer fearing for his life and the other officers around him and the safety of the public fired defensive shots. He used his training to save his own life and that of his colleagues.
The claim of self-defense drew this response from Minneapolis Mayor Jacob Fry. Get the f*** out of Minneapolis. We do not want you here. The driver was shot in the head. She's identified as 37-year-old Renee Good. Minnesota Governor Tim Walz places blame squarely at the feet of the Trump administration.
It's governing by reality TV.
And today that recklessness cost someone their life. President Trump described the video as a horrible thing to watch. He accused the woman driving the car of resisting and claimed she violently, willfully, and viciously ran over the ICE officer. Within hours, the Minneapolis killing ignited protests as far away as New York City. I'm John Tucker, Bloomberg Radio.
All right, John, thank you. We want to get to the latest on Venezuela. Now, oil traders and refiners are rushing to position after President Trump said the U.S. will take control of up to 50 million barrels of Venezuelan oil. In an interview with The New York Times, the president said only time will tell how long the U.S. will maintain oversight of the country.
But when pressed, he said it could be much longer than a year. Bloomberg's Rosalind Matheson reports the U.S. may be aiming to control Venezuela oil exports indefinitely.
They would hold the proceeds in Treasury accounts, which means that creditors can't really get their hands on that money, at least for some time. The impact on the market remains to be seen. I mean, Venezuelan oil is not a key one in the market at the moment, a market that's already very well supplied. I mean, Donald Trump is talking about up to 50 million barrels of oil being available.
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Chapter 3: How did the Minneapolis Mayor respond to the ICE shooting?
The president made the demands in a series of social media posts and later followed them up with an executive order. Palmer Luckey is the founder of defense technology company Anderlein says he does not have
a problem with it if i am getting paid by taxpayers they should have the ability to elect people elect representatives elect you know who will then nominate people who can hold me to account in any way they wish if they want to say that i only pay myself five million dollars until i'm caught up with my schedules they should be allowed to do that
And Palmer Luckey tells Bloomberg he only pays himself $100,000 a year. Shares and legacy defense contractors took a hit after the president's moves. But this morning, they are bouncing back. Northrop Grumman, it is up 7.3% right now. Lockheed Martin is up 6.5%. And RTX is up more than 4%.
And Karen, the White House is reportedly drafting an executive order on affordability. That's according to a report from Politico after President Trump posted on social media that he will immediately take action to ban large institutional investors from buying more single-family homes and that he'll ask Congress to codify that.
Bloomberg Intelligence real estate analyst Jeffrey Langbaum explains how this affects Wall Street.
If at the end of the day, these companies that largely grow by buying new rental homes, if they're prohibited from doing that, that takes away a big part of their growth engine. And then, you know, it raises the question of whether there's a viable business model there if the government is anti-institutional ownership of rental homes.
That's Bloomberg Intelligence Analyst Jeffrey Langbaum, and the President's Post sent the S&P 1500 Home Building Index down 2.6%.
Time now for the Bloomberg Sports Update, and we bring in John Staschauer. John.
Thanks, Karen. A trade in the NBA. Trey Young was the top player for the Atlanta Hawks for seven and a half seasons. The Hawks have traded Young to the Washington Wizards for C.J. McCollum and Corey Crispert. A baseball trade, the Marlins have traded starting pitcher Edward Cabrera to the Cubs for three prospects. College football playoffs, semifinals tonight in Phoenix.
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