Trump to Announce Fed Pick Tomorrow, Apple Earnings, More
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News when you want it with Bloomberg News Now. I'm Doug Krisner. Tonight, President Trump said he will announce his nominee for chair of the Federal Reserve on Friday.
And I'll be naming the Fed tomorrow morning. I've chosen a very good person to head the Fed. I'll be putting that out tomorrow morning.
Now, Trump's pick may face a complicated confirmation in the U.S. Senate. Senator Tom Tillis has already vowed to block any Fed nominees until a probe into the central bank's renovation is resolved. SpaceX is considering a potential merger with Tesla or an alternative combination with the firm XAI, another Elon Musk company. We are told any transaction could attract interest from infrastructure funds and Middle Eastern sovereign investors. Here is Bloomberg's Ed Ludlow.
My understanding is that there is a group of investors that are pushing very much on the Tesla idea, but nothing is final. As we all know, the background context is that SpaceX is making preparations for an IPO at some point in the middle of this year.
That is Bloomberg's Ed Ludlow. Meantime, OpenAI is reportedly laying the groundwork for an IPO in the fourth quarter. The Wall Street Journal reports the company is accelerating plans as competition with its rival Anthropic intensifies. OpenAI is holding informal talks with Wall Street banks about a potential public listing. After the bell, Apple reported record sales for the holiday period. We have more from Bloomberg's Charlie Pellett.
It was driven by strong demand for the iPhone 17, growth in services, and a rebound in China. Revenue jumped 16% to $143.8 billion in the quarter, ending December 27th, setting a record. But Walter Peisic, a partner at LightShed Partners, says there are questions about Tim Cook's AI strategy.
Let's hope that Cook, with his deputies, can execute on this new strategy with Google under the current administration where there's very limitations. They should have all the opportunities in the world to be able to do that. Let's hope they do it by the end of the year.
Apple is predicting revenue growth of up to 16% in the second quarter. In New York, Charlie Pellett, Bloomberg Radio.
What is President Trump's upcoming announcement regarding the Federal Reserve?
The U.S. has been investigating allegations that Meta employees can access messages sent through WhatsApp. Now, Meta has said the chat service is private and encrypted. However, former Meta contractors claim they and some Meta staff had unfettered access to WhatsApp messages. The claims are being examined by special agents within the Commerce Department. Here is Bloomberg's Sarah Fryer.
We do know that they interviewed these former contractors and we're looking into this possibility which directly contradicts how Meta has marketed WhatsApp and indeed how users have come to expect their messages to be handled on the app.
That is Bloomberg's Sarah Fryer. President Trump and Senate Democrats have reached a tentative deal to avert a government shutdown. The White House has been negotiating with Democrats to place new limits on immigration raids that have provoked a national outcry. Now, a Democratic aide has told us this deal would fund the Homeland Security Department for two weeks as a way of allowing time for continued negotiations. Meantime, Democratic and Republican leaders in the Senate are sounding out their members on this agreement. President Trump is urging both parties to vote for it.
How might Trump's Fed pick face challenges in confirmation?
President Trump, meantime, is suing the US Treasury and the IRS for at least $10 billion. The action stems from unauthorized disclosure of his tax returns during his first term in office. The suit was filed by Trump, his sons, and the Trump Organization, and it claims the IRS and Treasury had a duty to safeguard Trump's confidential tax returns and related information.
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