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Chapter 1: What are the latest updates on the government shutdown?
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with efforts to reopen the government four days into a partial shutdown. President Trump is urging House Republicans to pass the measure that would fund the Homeland Security Department for two weeks. That's to allow for more time to negotiate on limits to immigration enforcement.
Chapter 2: How is President Trump addressing immigration during the shutdown?
The president says even Democrats want to see this resolved.
I spoke with Senator Schumer numerous times, and I don't think they want to see a shutdown.
President Trump spoke from the Oval Office. A couple of Republican holdouts, Anna Paulina Luna of Florida and Tennessee's Tim Burchett, dropped their opposition to the bill after speaking with the White House. That clears the way for a vote today. House Minority Leader Hakeem Jeffries says Democrats are pushing for dramatic changes.
The American people want to see the masks come off. The American people want to see body cameras turned on.
House Democratic leader Hakeem Jeffries. Now, Homeland Security Secretary Kristi Noem says ICE agents will start wearing body cameras in Minneapolis after the outcry over two American deaths there last month. But as the shutdown continues, its effects are being felt. The Labor Department says the January jobs report that was due this Friday will be delayed because the agency is closed.
Nathan, President Trump says he's seeking $1 billion in damages from Harvard University after the New York Times reported that his administration had backed off demands for $200 million to satisfy accusations of wrongdoing by the Ivy League institution. Trump called the Times article completely wrong.
The administration has waged an aggressive campaign against Harvard and other universities over accusations of anti-Semitism linked to campus protests against Israel's military campaign in the Gaza Strip.
Karen, there are new developments in the Jeffrey Epstein case. Former President Bill Clinton and his wife, former Secretary of State Hillary Clinton, are now agreeing to testify in the House Oversight Committee's investigation into the late sex offender. The full House had planned to vote this week to hold the Clintons in criminal contempt if they continue to defy subpoenas.
Now, Republican Congresswoman Virginia Foxx says that vote is on hold.
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Chapter 3: What are the implications of the Clintons testifying in the Epstein inquiry?
Republican Virginia Fox spoke at a committee hearing on the contempt vote.
In another development, Nathan, the NFL says it will review emails that have surfaced between Jeffrey Epstein and New York Giants co-owner Steve Tisch. Dozens of them were released in the Justice Department's latest batch of millions of Epstein files. Commissioner Roger Goodell says it's too soon to say whether Tisch will face punishment.
We are going to look at all the facts. We're going to look at the context of those. We're going to try to understand that. And we'll look at how that falls under the policy. But I think we take one step at a time. Let's get the facts first.
NFL Commissioner Roger Goodell spoke at the league's annual pre-Super Bowl news conference. Tish released a statement saying he had a brief association with Epstein, but never took up any of his invitations and never visited his island.
Now, Karen, let's turn to the latest on geopolitics. President Trump says he anticipates talks with Iran over a new nuclear deal in the coming days. The president spoke with reporters at the White House.
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Chapter 4: What developments have emerged regarding the NFL and Jeffrey Epstein?
Right now, we're talking to them. We're talking to Iran. And if we can work something out, that'd be great. And if we can't, probably bad things would happen.
The president spoke after Iran's supreme leader, Ayatollah Ali Khamenei, warned over the weekend of a regional war if his country is attacked.
Nathan, President Trump and India's Prime Minister Narendra Modi have agreed to a surprise deal to slash American tariffs. U.S. levies on Indian goods are being cut from 25 to 18 percent, while an additional 25 percent punitive duty tied to purchases of Russian oil is being scrapped. Writing on social media, the president said India had agreed to buy $500 billion of U.S.
goods and halt crude purchases from Russia as part of the deal.
Turning to the markets now, Karen, futures are higher following yesterday's gains on Wall Street. Dip buyers are back in precious metals. Gold is up 5.5% after dropping 13% the last two days. And silver is surging more than 12.5% this morning. That precious metal plunged more than 30% since last week.
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Chapter 5: How do recent geopolitical events affect U.S.-Iran relations?
James Steele is Chief Precious Metals Analyst at HSBC.
Any commodity that has this parabolic rally that gold and silver had and the new entrance into the market, which they were flooding in and have been for many, many months now. It really does invite a volatility and be profit taking stroke liquidation on any news or developments that run counter to gold.
HSBC Chief Precious Metals Analyst James Steele thinks gold may reach $5,500 an ounce this year. Right now it's trading at $49.19. Karen, the world's richest man is looking to fuel his increasingly costly ambitions in artificial intelligence and space exploration. Bloomberg's John Tucker is here with more. John, what is Elon Musk up to?
Well, Nate, Musk combining SpaceX and XAI, this is a deal that values the enlarged entity at $1.25 trillion. The deal brings together two of the largest closely held companies in the world. It all sounds a little Buck Rogers. SpaceX said it acquired XAI to form the most ambitious vertically integrated innovation engine on and off Earth with AI, rockets...
space-based internet, direct-to-mobile device communications, and the world's foremost real-time information and free speech platform. That's free speech as defined by Elon Musk. In explaining the rationale for the deal, Musk says in the statement that the least expensive way to do AI computations within two to three years will be in space.
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Chapter 6: What is the significance of the recent U.S.-India trade agreement?
SpaceX also requesting permission to launch as many as a million satellites into Earth orbit for this plan. The company is still expected to hold an initial public offering later this year, according to our sources. In New York, I'm John Tucker, Bloomberg Radio.
Time now for the Bloomberg Sports Update, and we bring in John Staschauer. John.
Thanks, Karen. College basketball doubleheader in the ACC. North Carolina beat Syracuse 87-77 to the Big 12. Kansas won 64-61 at Texas Tech. NBA trade deadline Thursday, 3 o'clock. Does Milwaukee trade Giannis Antetokounmpo? The team said to be most interested, the Knicks, Miami, Golden State, and Minnesota.
At the Super Bowl, NFL Commissioner Roger Goodell says work needs to be done on improving diversity. Ten coaches were just hired, none of them African-American. That's your Bloomberg Sports Update.
Chapter 7: How is Elon Musk's new business venture impacting the tech landscape?
Thanks, John. And that's news when you want it with Bloomberg News Now. I'm Karen Moscow.
I'm Nathan Hager. 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.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.