Trump to Iran: Keep Protesting, Threatens Sanctuary Cities, 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 Doug Krisner. Iran has experienced more than two weeks of deadly nationwide protest and the Oslo-based Iran Human Rights Group is now warning the death toll could be more than 6,000. Today, President Trump urged Iranians to keep up their protest.
How severe are the nationwide protests in Iran and what is the reported death toll?
Keep protesting. Take over your institutions if possible. And save the name of the killers and the abusers that are abusing you. You're being very badly abused.
President Trump speaking earlier at an event in Detroit. Now, earlier this week, Trump told reporters the U.S. was looking at some very strong options on Iran. Meantime, we were told SpaceX is now offering free Starlink satellite service in Iran after a days-long Internet blackout. Also today, President Trump said he would cut off federal funding to sanctuary cities at the end of the month. His administration has given 90-day notices to states like California that bill the federal government. Here is Trump.
Starting February 1st, we're not making any payments to sanctuary cities or states having sanctuary cities because they do everything possible to protect criminals at the expense of American citizens.
What did President Trump say to Iranians and how did he urge them to protest?
And it breeds fraud and crime and all of the other problems that come. So we're not making any payment to anybody that supports sanctuary cities.
President Trump there. Netflix is working on revised terms for its proposed acquisition of Warner Brothers Discovery. We are told Netflix has discussed making its offer all cash for Warner Studios and streaming businesses. Here is Bloomberg's Chris Palmieri.
There was a component about $4 out of the $27.75 that was going to be in Netflix stock. Netflix stock has taken a beating since this whole takeover war began, lost about a quarter of its value. And Netflix sees this as an opportunity to really just sort of strengthen the terms because they're competing against an all-cash offer from Paramount.
That is Bloomberg's Chris Palmieri. Now, the offer from Netflix has faced opposition from both politicians and from Paramount's guidance. Institutional investors, meantime, have been divided in their support. As President Trump attempts to address the problem of affordability, he has attacked the ways banks make money from credit cards. Trump recently demanded credit card lenders cap interest rates at 10 percent for a year, and today he called on lawmakers to support legislation known as the Credit Card Competition Act. It's a bipartisan measure that targets the nearly $200 billion banks and payment companies collect from merchants each year whenever consumers swipe their credit cards at checkout.
We are told that banks are privately fuming over Trump's plans. Here is Cheryl Pate, Senior Portfolio Manager at Angel Oak Capital.
I think it's difficult to make that profitability work on some cohorts of the consumer, and you risk losing access to consumers who may most need that product. I think there's also some other offsets. Does that get moved into higher annual fees, less credit card rewards, and sort of changes the landscape of the business in its entirety?
Cheryl Pate there from Angel Oak Capital. The latest reading on U.S.
How is SpaceX responding to Iran's internet blackout with Starlink access?
retail inflation was a bit cooler than forecast. Core CPI rose two-tenths of one percent in December compared with the prior month, and on an annual basis, Core CPI advanced at a rate of 2.6 percent, matching a four-year low. Here is Troy Lutka, senior U.S. economist at SMBC NICO Securities.
Yeah, a bit surprised here that it's core CPI, which misses expectations here at 0.2%. Considering the fact that gasoline prices were down nearly 5% on a month-over-month basis, you would expect that it was headline that would be weak. But the fact that core is actually a bit softer is a profoundly strong signal, at least to us, that inflation is coming down, inflationary pressures are dissipating, and the Fed is going to be cutting this year.
That is Troy Lutka. He is the senior U.S.
What are Trump’s plans to cut federal funding to sanctuary cities and which states are affected?
economist at SMBC NICO Securities. Incidentally, money markets continue to project the next Fed rate cut in mid-2026.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–0:18
2
How severe are the nationwide protests in Iran and what is the reported death toll?
0:18–1:13
3
What did President Trump say to Iranians and how did he urge them to protest?
1:13–3:17
4
How is SpaceX responding to Iran's internet blackout with Starlink access?
3:17–4:04
5
What are Trump’s plans to cut federal funding to sanctuary cities and which states are affected?
4:04–4:53
Speakers
5 identifiedMore from Bloomberg News Now
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