Minneapolis Protests Continue, Trump Sees Long Venezuela Role

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What is the main topic discussed in this episode?

Nathan Hager 0:00

News when you want it with Bloomberg News Now. I'm Nathan Hager. Protesters and officers are shoving each other this morning outside the main federal building in St. Paul, Minnesota. Minneapolis schools have canceled classes for the rest of the week. All this after the deadly shooting of a woman by an immigration and customs enforcement officer yesterday.

What triggered the protests outside the federal building in St. Paul and what immediate actions were taken?

Nathan Hager 0:21

State and local officials are demanding ICE leave the city after 37-year-old Renee Good was shot in the head. Acting ICE Director Todd Lyons told Fox News this morning immigration enforcement continues. Wendy Schiller is a professor of political science at Brown University.

0:36

Certainly we saw with the loss of life and the murder of George Floyd that this could be a catalyst. A catalyst, perhaps, a different segment of the population, a different sort of coalition of activists. But there have been plenty of people protesting ICE, trying to get in the way of ICE, trying to block ICE all over the country for quite some time.

Why have Minneapolis schools canceled classes and what are local officials demanding of ICE?

Nathan Hager 0:58

Brown University's Wendy Schiller was a guest on Bloomberg Daybreak. Treasury Secretary Scott Besant is scheduled to speak today at the Economic Club of Minnesota, and that could be a target for protesters as well. President Trump says the U.S. could be in control of Venezuela for some time after the ouster of Nicolas Maduro. The president gave a wide-ranging interview to the New York Times after he announced up to 50 million barrels of Venezuelan crude will be sold by the U.S. Bloomberg's Alexander Pearson reports oil traders and refiners are jockeying for position.

Alexander Pearson 1:27

They very much seem to be signaling that they're aware of this and that, you know, in the words of actually the Energy Secretary, Chris Wright, It could even be indefinite in terms of how long they are involved in the selling of Venezuela's exports on oil.

Nathan Hager 1:41

Bloomberg's Alex Pearson reporting, and Secretary Wright told Fox Business this morning that ConocoPhillips and ExxonMobil are among companies looking for ways to help rebuild Venezuela's energy infrastructure. ConocoPhillips shares are up 3% right now, Exxon's up more than 1.5%. The president is also looking for common ground with Colombian leader Gustavo Petro, days after he called him a sick cocaine trafficker and threatened to strike his country. The two had a phone call yesterday where President Trump says they discussed counter-narcotics and other points of dispute. He says they also agreed to meet at the White House in the near future. French President Emmanuel Macron is accusing the U.S.

Nathan Hager 2:17

of breaking international law and turning away from its partners days after Maduro's capture and as President Trump threatens to take over Greenland. Macron told a group of French ambassadors in Paris today that he rejects the, quote, new colonialism and new imperialism. Secretary of State Marco Rubio plans to speak with Danish officials next week on the administration's Greenland plans. President Trump's talk about boosting the military budget from $1 to $1.5 trillion has defense stocks soaring. Bloomberg Government's Jonathan Tamari has more.

Jonathan Tamari 2:46

The spending piece, at least, is going to have to go through Congress.

How does Wendy Schiller explain the connection between George Floyd’s death and renewed protests against ICE?

Jonathan Tamari 2:48

And with the president increasingly talking about aggressive action around the world and cutting Congress out of that decision-making process, I think it's very unlikely that... Democrats are going to write him such a big check.

Nathan Hager 2:59

For governments, John Tamari. But right now, defense names like Northrop Grumman are up eight and a half percent. Lockheed Martin's up almost eight percent. RTX is higher by more than four percent. Big tech stocks are moving lower. That's weighing on the market. The Nasdaq Composite's down six tenths of one percent. The S&P 500 right now is little changed. The Dow Jones Industrial Average is holding on to a four tenths of one percent gain. The White House is reportedly preparing a housing affordability executive order after President Trump announced he wants to ban institutional investors from buying single-family homes. Bloomberg Government's Mika Solner has more from Washington.