Chapter 1: What is the main topic discussed in this episode?
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.
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News when you want it with Bloomberg News Now. I'm Monica Ricks. Corporate executives are on guard over President Trump's recent edicts.
In the last week, the president has made a series of demands and orders aimed at C-suites, from pressing defense contractors to cut buybacks and calling out Raytheon, to pushing major oil producers to invest in Venezuela, all in service of shoring up his political fortunes ahead of midterm elections. But many CEOs aren't exactly embracing Trump's approach to business.
In fact, many have pushed back against his policies, including more than 1,000 firms that have joined lawsuits contesting his tariffs. If the Supreme Court overturns them, the government could be on the hook for billions. It's unclear when justices could decide, but more opinions are expected next week. President Trump's oil plan in Venezuela is also getting a bit of backlash now.
ExxonMobil CEO Darren Woods was one of about 20 executives who met with the president at the White House yesterday, and he's skeptical.
We've had our assets seized there twice, and so you can imagine to reenter a third time would require some pretty significant changes.
Trump has said oil companies will have total safety, but Energy Secretary Chris Wright tells Bloomberg U.S. troops aren't part of that plan.
President Trump, of course, never rules out options, but that is definitely not in the plans. That is not the plan. The plan is to use the military power that's manning the blockade of the oil so we can stop the criminals and stop our adversaries from taking oil out of Venezuela and have a more orderly, safe process from what's going on.
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Chapter 2: What recent actions has Trump taken that concern corporate executives?
I feel like some things are being said to try to trigger us, and people should not take the bait. They should not take the bait. They should listen to Renee Good's wife's words, which is, you know, go with compassion, don't go with hate, don't take the bait here.
Klobuchar also says she's implored federal investigators to collaborate on the shooting investigation. So far, they've barred state and local officials from accessing evidence in the case. But White House officials linked new body cam video online. They say it shows the officer feared for his life and acted in self-defense.
President Trump's calling for a one-year cap on credit card interest rates at 10% starting January 20th. The president didn't give many details, but wrote on social media, the American public will no longer be ripped off by credit card companies that are charging interest rates of 20 to 30% or even more.
It's not clear whether companies will respond or what actions Trump could take to force change. A judge has ruled the Trump administration cannot stop child care subsidies. Here's Bloomberg's Ed Kalecki.
A federal judge ruled Friday that President Trump's administration cannot block federal money for child care subsidies and other programs aimed at supporting needy children and their families from flowing to five Democratic-led states for now. California, Colorado, Illinois, Minnesota, and New York.
argued that a policy announced Tuesday to freeze funds for three grant programs is having an immediate impact on them and creating operational chaos. The states contended that the government did not have a legal reason for holding back the money from them. Ed Kolegi, Bloomberg Radio.
Elon Musk has accused the British government of being fascist after it stepped up threats to block X over sexualized images of women and children produced by his artificial intelligence tool, Grok. Musk made the comment in response to a chart showing the UK had the highest arrest for social media comments in the world and referred to the country as a prison island.
Grok turned off its image editing function for most users in the US this week over similar backlash. You can only use the function now if you're a paid subscriber
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Chapter 3: How are CEOs responding to Trump's demands on defense contractors?
Flu levels are still surging and breaking records nationwide. In fact, the CDC says this year's flu season is the worst in the past decade. There have been at least 15 million cases, 180,000 hospitalizations, and 7,400 deaths so far. Health officials are blaming a new variant of influenza for making symptoms more severe this season and stress it's not too late to get a flu shot.
The Washington National Opera is leaving the Kennedy Center after more than 50 years. A rep for the arts venue says the decision was based on budget challenges, but this marks the latest high-profile departure following President Trump's takeover. And that's news when you want it with Bloomberg News Now. I'm Monica Ricks and this is Bloomberg.
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Chapter 4: What is the backlash regarding Trump's oil plan in Venezuela?
Vanguard Marketing Corporation Distributor. Hi, I'm Stephen Carroll.
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