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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. The House has passed a roughly $1.2 trillion spending package to end a partial government shutdown, funding most of the government for the budget year ending September 30th. It also provides short-term funding for the Department of Homeland Security for two weeks.
Bloomberg's Megan Scully says there's a reason Democrats supported this measure.
In the broader spending bill, it overturns some doge cuts, including cuts to medical research, particularly cancer research. And there are a lot of programs in there that Democrats do support, which is why you saw the support in the Senate and then you saw some 21 or so Democrats in the House lining up behind it.
This gives President Trump and Democrats two weeks to negotiate Democrats' demands for new restraints on immigration enforcement agents. The U.S. has shot down an Iranian drone as it was approaching a U.S. Navy vessel. U.S. Central Command released a statement saying that the drone, quote, aggressively approached the USS Abraham Lincoln with unclear intent.
No American service members were harmed, but oil prices jumped. WTI now up nearly 3 percent. Brent crude up more than 2.5 percent. Netflix and Warner Brothers Discovery executives defended their media merger against lawmakers' concerns about the proposed tie-up and its impact on streaming consumers and Hollywood workers.
Republican Senator Mike Lee of Utah is chair of the Senate subcommittee that oversees competition and antitrust policy.
One might say that Netflix seeks to become... the one platform to rule them all, or at least to exercise a significant amount of market dominance. The merger raises numerous antitrust concerns. In a nutshell, consolidating both production and distribution power.
Netflix co-chief executive officer Ted Sarandos says the combination would give consumers more content for less and help improve distribution of Warner Brothers films.
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Chapter 2: What spending package did the House pass to end the government shutdown?
We'll work with him as he settles into the job to lay out what the right strategic moves will be and how we're going to measure ourselves against those. So I'm highly confident in Josh and the team working with him.
Walt Disney Company Chairman James Gorman on Bloomberg TV. A renewed tech sell-off dragged down stocks from near record levels. We bring you closing numbers each day here at Bloomberg. The S&P lost 59 points. NASDAQ lost 337 points. The Dow lost 167 points. The 10-year Treasury yield at 4.28%. The 2-year yield at 3.56%.
Bitcoin has plummeted 40% since rocketing to a record in early October, dropping now to its lowest price since President Trump's election victory in November. Bitcoin now down more than 2.5% at $76,000. Advanced Micro Devices, the main challenger to NVIDIA in the AI processor market, gave a disappointing forecast for the current period.
a sign that it's not making the kind of AI inroads some investors anticipated. First quarter sales beat estimates, but investors had been looking for an even bigger payoff. Shares of AMD down more than 5% now in the post market. Builders are working on a plan for a massive program to develop up to a million homes to help address the U.S.
affordability crisis, also while allowing private capital to deploy billions of dollars. Sources tell Bloomberg the proposal calls for builders to sell entry-level homes into a pathway to ownership program funded by private investors. There are some concerns that such a program would be hard to implement, and it is possible it won't get enough support.
The size of the program will depend on how many builders get involved. The program is also being initiated by the builders. One White House official says the Trump administration is not actively considering it. Federal Reserve Governor Stephen Myron says the absence of strong price pressures in the economy means interest rates, which he described as restrictive, should be lowered again this year.
He dissented against the Fed's decision last week to hold rates steady in favor of a quarter percentage point cut.
When I look at underlying inflation, I don't really see a lot of very strong price pressures in the economy. I don't see a lot of strong supply-demand imbalances of the type that monetary policy should respond to.
Myron told Fox Business the Fed is keeping rates too high in part because of how the Fed measures inflation. Former President Bill Clinton and his wife, former Secretary of State Hillary Clinton, will appear before a House committee investigating their ties to Jeffrey Epstein on February 26th and 27th.
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