Venezuelan Oil Heading to US, Trump Touts Big Investments, 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 Monica Ricks. President Trump says 30 million barrels of Venezuelan oil is on its way to the U.S. now, about a week after the U.S.
What recent developments have occurred regarding Venezuelan oil shipments to the U.S.?
attacked the country and captured its president.
That's a lot of oil. It's about $4 billion worth. It's on its way to the United States right now.
Trump's hosting executives from major oil companies at the White House today and discussing potentially big investments in Venezuela's energy industry.
But it's tremendous reserves among the biggest in the world. Some people say it is the biggest in the world. And we're going to be working with Venezuela. We're going to be making the decision as to which... Well, companies are going to go in that we're going to allow to go in.
The president claims executives are prepared to spend upwards of $100 billion in Venezuela. Trump has promised total safety. Meantime, a small delegation from the U.S. is now in Venezuela meeting with officials about reopening its embassy there. It's unclear who's part of that delegation, but they're said to be working on reestablishing diplomatic ties and addressing consequences from the kidnapping of President Nicolas Maduro. More than 100 Venezuelans were killed during that mission, including civilians and military personnel.
What investments is Trump discussing with oil executives today?
Tensions are rising in Minneapolis as the feds continue to shut out Minnesota state authorities in their investigation of Renee Good's death. Both Homeland Security and the Trump administration are doubling down on support for the ICE agent who shot her, saying he acted in self-defense. But Minneapolis Mayor Jacob Fry says ICE had no business being in Minneapolis in the first place.
What did they say when they came in here? The reason that they've stated, driving down crime. They are clearly driving crime up. Our city is safe. Our city is welcoming. They are making it less so. Bad for business, bad for safety, bad for democracy, and bad for this republic. We want them out.
Hennepin County Prosecutor Mary Moriarty says she's building a parallel case and calling on the public now to share any shooting evidence with her office.
The community, this community expects to understand what the evidence is and the justification for any decision that might be made.
The Minneapolis school system is also offering families the option of remote learning for the next month as the Trump administration ramps up its federal immigration enforcement. It's said to be sending about 2,000 agents to the area. Luigi Mangione was back in court today for another hearing in New York City where he's facing federal charges for last year's shooting death of UnitedHealthcare CEO Brian Thompson. Mangione's attorneys are trying to get the death penalty taken off the table and argue Attorney General Pam Bondi's involvement in the case could be a conflict of interest. Bondi was a lobbyist before she became Attorney General and her firm represented UnitedHealthcare. A decision not expected for a few months, but federal prosecutors are calling defense claims meritless.
December's jobs report wrapped up a dismal year for the labor market. The economy added just 50,000 jobs last month, less than expected. But the unemployment rate also fell to 4.4 percent. U.S. consumer sentiment also up slightly. The preliminary January sentiment index climbing 54 up from 52.9 in December. Joanne Su is director of surveys of consumers at the University of Michigan and says consumers are feeling a little bit better about the economy, but sentiment still at historic lows.
Overall, they continue to be concerned about the pain of high prices, but at the same time, their inflation expectations seem to be stabilizing right now at much lower levels than we were seeing back in April and May when tariff announcements were peaking. But we're not out of the woods. Consumer views of inflation still exceed what we were seeing at the end of 2024, beginning in 2025.
Joanne Su with the University of Michigan on Bloomberg Intelligence today.
What diplomatic efforts are being made between the U.S. and Venezuela?
Federal Reserve Bank of Atlanta President Rafael Bostic also said the central bank should stay focused on bringing inflation back to its 2 percent target.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–0:10
2
What recent developments have occurred regarding Venezuelan oil shipments to the U.S.?
0:10–1:12
3
What investments is Trump discussing with oil executives today?
1:12–3:42
4
What diplomatic efforts are being made between the U.S. and Venezuela?
3:42–5:34
5
What tensions are rising in Minneapolis related to federal investigations?
5:34–5:45
Speakers
7 identifiedMore from Bloomberg News Now
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