Venezuela Frees US Citizen, Trump Message to Iran Protesters, More
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. The government of Venezuela has started to release prisoners with U.S. citizenship. We are told at least one U.S. citizen has already left the country. This is the first known release of a U.S. citizen since authorities in Caracas began freeing detainees, and it's part of an effort to meet Washington's demands following the capture of Nicolas Maduro. 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.
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. 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.
What recent developments occurred in Venezuela regarding US citizens?
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.
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