Trump Threatens Insurrection Act, 6th Oil Tanker Seized, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris.
What are the implications of Trump threatening to invoke the Insurrection Act?
President Trump has threatened to invoke the Insurrection Act and deploy troops to quell persistent protests against ICE officers in Minneapolis. Dean of the UC Berkeley School of Law, Erwin Chemerinsky, says it would be truly extraordinary to use the Insurrection Act and the military in these circumstances.
There is a strong tradition in the United States that we don't use the military for domestic law enforcement. No president has done it without a governor's request since 1965 when President Johnson sent troops into Selma, Alabama to protect civil rights demonstrators.
Homeland Security Secretary Kristi Noem says she doesn't think ICE has gone too far.
Our ICE agents are following the law and running. their operations according to training.
Trump has repeatedly threatened to invoke the Insurrection Act to deploy the military or federalize the National Guard for domestic law enforcement over the objections of state governors. U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker the Trump administration says has ties to Venezuela. Homeland Security Secretary Kristi Noem says the motor tanker Veronica was operating in defiance of President Trump's quarantine of sanctioned vessels in the Caribbean. This is the sixth tanker seized by U.S. forces. The U.S. is imposing new sanctions on Iranian officials accused of repressing protests against Iran's theocratic government. The Treasury Department targeted the Secretary of the Supreme Council for National Security,
for allegedly calling for violence against protesters. The sanctions also affect 18 people and companies involved in a shadow banking network linked to Iranian financial institutions. A judge ruled Equinor can resume building its wind project near New York. This is the second time this week a federal court has blocked the Trump administration from stopping offshore wind developments. Ford CEO Jim Farley says there is urgent need to update the North American trade agreement critical to the region's automotive industry. Farley says the company needs to work through a long list of issues with Trump's administration, including revising the trade agreement and more relief from tariffs.
We've made progress on mitigating some of the tariffs, but we have more work to do. We have a high exposure to aluminum, for example. The EPA changes are really welcome, frankly.
Board CEO Jim Farley spoke with Bloomberg TV's Matt Miller at the Detroit Central Station. Listen to that entire interview on the Bloomberg Talks podcast. Goldman Sachs blew through expectations for equities trading revenue, posting an all-time Wall Street record of $4.31 billion in the final three months of last year. CEO David Solomon on the analyst's call.
While the bar for transformational M&A remains very high, We will continue to look for ways to accelerate growth in asset wealth management.
Net revenue for the bank in 2025 was $58.3 billion, its second best year on record. Morgan Stanley's debt bankers increased revenue 93% in the fourth quarter, by far the biggest jump on Wall Street and capping a record year for that business. During the analyst call, CEO and Chairman Ted Pick spoke about the 2026 outlook, predicting a mix of tailwinds and headwinds to prevail.
We are well served to watch for any overreaching against ongoing global uncertainties and higher asset prices. 2025 results, and in fact the results for every quarter over the last eight, are a blueprint for Morgan Stanley's success.
The company reported record annual net income with total investment banking fees at $2.41 billion. That's up from a year ago. Spotify is raising its subscription prices by 8%. Shares jumped 3% in the pre-market. Spotify shares are now 3.6% lower. Taiwan Semiconductor Manufacturing beat expectations for its fourth quarter earnings. The company expects to spend heavily to meet rising demand for artificial intelligence processors. And its blowout outlook helped push a rally in tech giants, which spurred a rebound in stocks.
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