Chapter 1: What is the main topic discussed in this episode?
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All investing is subject to risk. Vanguard Marketing Corporation Distributor. News when you want it with Bloomberg News Now, I'm Doug Krisner. TikTok and its Chinese parent company have closed a deal to transfer part of TikTok's U.S. operations to American investors. Here is Bloomberg's Annabelle Droolers.
We've got TikTok and ByteDance that have established that JV to transfer parts of TikTok's US business to non-Chinese owners. And so as part of that deal, you're going to get essentially a newly created US entity. And we've actually already been hearing that staff within the US had already been starting to be split into these teams just in the last few weeks.
So essentially just creating a bit of a firewall around what happens in the States.
That is Bloomberg's Annabelle Droolers. Now, this new U.S. entity will be owned by Oracle, Silverlake, MGX and existing ByteDance investors. President Trump says he has completed interviews with candidates to succeed Jay Powell as Fed chairman. Trump reiterated he has someone in mind and an announcement is coming soon. Here is Trump speaking to reporters aboard Air Force One.
I'll be telling you soon. I have somebody that I think will be very good, but I'm not going to reveal it. Someone from Wall Street? That's very respected, very well known, and will do, I think, a very good job.
Now, Treasury Secretary Scott Besson previously said Trump could announce his pick for Fed chair as soon as next week. Also today, President Trump sued JPMorgan Chase and its CEO, Jamie Dimon, for at least $5 billion. Trump is alleging the lender stopped offering him and his businesses banking services for political reasons.
No, I haven't spoken to him. He banked me. So we'll see if that means anything, but I think it should. He should be banked. In a statement, J.P.
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Chapter 2: What are the latest updates on the TikTok US deal?
I think they are going to be one of the world's leading semiconductor developers, designers, and manufacturers.
Ivan Feinseth from Tigris Financial Partners. Now, Intel has recently attracted some high-profile investments from the U.S. government, as well as Nvidia and SoftBank Group. Right now, shares in Intel are down 12% in late U.S. trading. We're hearing a bit more on that framework deal for Greenland reached on Wednesday between President Trump and NATO.
Following the announcement, Trump said he would not impose tariffs on certain European countries that were set to begin February 1st. The president's pivot on Greenland has left many European allies scratching their heads. However, Commerce Secretary Howard Lutnick says the U.S. relationship with the EU is perfectly fine.
The framework is a national security based framework, that that's what the United States cares about. We care about our national security and we care about the shipping lanes. So let's talk about the national security and shipping lanes and let's see if we can't figure out a framework to do that together.
U.S. Commerce Secretary Howard Lutnick speaking to Bloomberg at the World Economic Forum in Davos. This weekend's snowstorm is expected to pummel much of the U.S. States as far east as Virginia and as far west as Texas are expected to receive the worst of it. In preparation, Texas Governor Greg Abbott issued disaster declarations for more than half of the counties in his state.
Residents there are worried about a repeat of 2021's Great Texas Freeze. It left nearly 10 million people without power. Abbott is confident the state has learned its lesson from that disaster when it comes to the state's power grid.
The ERCOT grid has never been stronger, never been more prepared, and is fully capable of handling this winter storm. There is no expectation whatsoever that there's going to be any loss of power from the power grid.
That is Texas Governor Greg Abbott. Meantime, U.S. airlines are already preparing for a dismal weekend of air travel because of this storm. We have more from Bloomberg's Tom Busby.
U.S. carriers are out with backup plans for passengers ahead of wicked winter weather expected to impact 125 million Americans and disrupt air traffic from coast to coast. Delta offering to rebook flights to and from 41 airports in the South and Southwest. United waiving change fees for flights at 61 airports. An American will do the same at airports from New Mexico to Virginia.
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Chapter 3: What did President Trump say about the Fed chair interviews?
We're talking top-grade products across the board of over 80 bond funds. actively managed by a 200-person global squad of sector specialists, analysts, and traders. These folks live and breathe fixed income. So if you're looking to give your clients consistent results year in and year out, go see the record for yourself at Vanguard.com slash audio. That's Vanguard.com slash audio.
All investing is subject to risk. Vanguard Marketing Corporation Distributor.
Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, head of government and economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond.
Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.