Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Amy Morris. Coal stocks gained as President Trump issued an executive order that could help the coal industry.
Already I've saved 74 coal power plants from crushing restrictions and closures. Today I'm proud to announce that the Tennessee Valley Authority has taken action to save two major coal plants in Tennessee. Tennessee Valley Authority.
The idea is for the military to make electricity contracts with coal-fired power plants, and the president is promising funds to recommission and upgrade coal plants. The Trump administration plans to appeal a series of court rulings blocking efforts to stop construction of offshore wind farms. Interior Secretary Doug Burgum says offshore wind farms are expensive and a national security threat.
And if you've got massive radar interference just off our huge population centers, if you wanted to attack America, you would launch autonomous drones through those things. Or you'd launch autonomous submarines because of the sonar interference. And so we just have to wake up. Warfare has changed in the last four years, and we have to be ready to respond to it.
Interior Secretary Burgum on Bloomberg surveillance. Supporters of wind energy say those claims are bogus. Energy Secretary Chris Wright in Venezuela for talks with acting President Delcy Rodriguez and oil industry executives on how to harness the country's vast reserves of crude. Wright says the U.S.
is working seven days a week to issue new licenses and that Venezuela's natural resources are immense. Rodriguez says Wright's visit is one of many to come. Attorney General Pam Bondi was on Capitol Hill today. She launched into a wide-ranging, passionate defense of President Trump, repeatedly shouting at Democrats during a combative hearing before the House Judiciary Committee.
Bondi was reprimanded by Democratic lawmakers for the release of files on disgraced financier Jeffrey Epstein, with critics claiming redactions were excessive and mishandled. Democratic Representative Pramila Jayapal.
Will you apologize for what your Department of Justice has put them through with the absolutely unacceptable release of the Epstein files and their information?
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Chapter 2: What executive order did Trump issue to boost the coal industry?
Bondi, backed by Republicans on the panel, touted her department's record on enforcement against undocumented immigrants. Traders adjusted their bets on the Fed's next move after a big surprise from the January jobs report. 130,000 new jobs added in the month, twice as many as economists expected, and the unemployment rate ticked down to 4.3 percent.
Claudia Somm is a former Fed economist now with New Century Advisors.
My base case is still two rate cuts this year, but we're going to get a lot more information. And the Fed is going to watch the labor market extremely carefully in terms of how they adjust going forward.
Diane Swant, chief economist at KPMG, says those numbers are even better the more you dig.
That underemployment rate where you get discouraged workers and those having just got part time jobs. That fell to 8% from 8.4% in December. What we're starting to see is some of the ice melt in the labor market now and things beginning to shift a bit. We need to keep up that momentum.
Markets are now pushing back bets on the next Fed rate cut from June to July. And we bring you the closing numbers each day here at Bloomberg. The S&P is flat. NASDAQ down 36 points. The Dow slipped 67 points. Bitcoin down 1%. Cisco Systems gave a weaker-than-expected forecast for profitability in the current quarter. Cisco shares down more than 7 percent in the post market.
The Pentagon has reportedly told a second aircraft carrier strike group to prepare to deploy to the Middle East as the U.S. military gets ready for a potential attack on Iran. The deployment of a second carrier to the Middle East would mark the first time there have been two carriers in that region in nearly a year.
President Trump says he insisted to Israeli Prime Minister Benjamin Netanyahu during their White House meeting today that negotiations with Iran continue as the U.S. pushes for a nuclear deal with Tehran. In a social media post, Trump called it a very good meeting, but that there was nothing definitive reached.
The airspace closure over El Paso, Texas reportedly stemmed from the Pentagon's plans to test a laser for use in shooting down drones used by Mexican drug cartels. The plan caused friction with the FAA, which wanted to ensure commercial air safety. The FAA shuttered the airspace after the Pentagon wanted to go ahead with the test. It's not clear whether that laser was ultimately deployed.
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Chapter 3: How does the Trump administration view offshore wind farms?
And we are watching the Winter Olympics medal count. Norway and Italy have the most at 13, and the U.S. has 11 medals. Actor James Van Der Beek has died. He is best known for playing Dawson Leary on Dawson's Creek. Van Der Beek was diagnosed with colorectal cancer in 2023. James Van Der Beek was 48 years old. And that's news when you want it with Bloomberg News Now. I'm Amy Morris.
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.
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
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