Trump Issues Warning to Venezuela's Maduro, Renews Call for Greenland Takeover

0:00Hello, I'm Stephen Carroll. I'm in Brussels where many of Europe's biggest decisions get made. And I'm Caroline Hepker in London with the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break.

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1:02Bloomberg Audio Studios, podcasts, radio, news. Good morning, I'm Nathan Hager. And I'm Karen Moscow. Here are the stories we're following today. Karen, we begin this morning with the latest on the Trump administration's pressure campaign against Venezuela. President Trump is warning Venezuelan President Nicolas Maduro not to, quote, play tough as the U.S. steps up its blockade of oil tankers going in and out of the country. The president says U.S. policy in the Western Hemisphere is changing under his administration. Well, you had a different kind of a president before me. They didn't mind being ripped off.

1:40They didn't mind being robbed. They didn't mind drugs pouring into our country. They didn't mind the jails of Venezuela and Trenton, Deirago, being emptied into the U.S. where they take over Colorado and other places. I do mind. President Trump spoke at a Mar-a-Lago news conference where he unveiled a new class of battleships dubbed Trump class. Bloomberg's Peter Fowler has more on the Venezuela blockade. Trump is saying that he's going to keep the oil. He's also threatening President Maduro not to fight back. If he fights back, he will never be able to fight back again. Trump has stopped short of saying that this is all about regime change.

2:15But people in his cabinet have been a lot more clear on that. Homeland Security Secretary Kirstie Noem said that this is about much more than just seizing the oil. He has to be gone, she said. And Bloomberg's Peter Fowler reports all this comes as the Coast Guard continues to pursue a sanctioned tanker days after boarding a non-sanctioned vessel over the weekend. Well, Nathan, in those same Mar-a-Lago remarks, President Trump said he believed people are very angry that pictures are being released that connect them to notorious sex offender Jeffrey Epstein days after the Justice Department released a new set of files tied to the late financier.

2:52The president said he hated to see former President Bill Clinton, who appeared frequently in the release, being tarnished by the association, describing this situation as terrible. I hate to see photos come out of him, but this is what the Democrats, mostly Democrats and a couple of bad Republicans, are asking for. So they're giving their photos of me, too. Everybody was friendly with this guy. The Epstein files and the fight over their disclosure have sparked infighting among President Trump supporters, adding to the political headwinds that the president is facing heading into next year's midterm elections.

3:26And staying at Mar-a-Lago, Karen, President Trump is also reiterating his desire for U.S. control over Greenland. That's after he announced plans to appoint Louisiana Governor Jeff Landry as a special envoy to the island. President Trump says it's a matter of national security. If you take a look at Greenland, you look up and down the coast, you have Russian and Chinese ships all over the place. We need it for national security. We have to have it. Greenland's a big deal. The president says it's not because of Greenland's energy or mineral reserves. He says the U.S. has plenty of those, but he doesn't think Denmark's devoted enough spending to protect the island.

4:01President Trump's comments have sparked outrage in both Denmark and Greenland. And Denmark's Prime Minister, Mehta Fredriksen, has warned the U.S. cannot annex the island. Well, Nathan, let's turn now to the latest in the Brown University shooting. The Trump administration will investigate the rampage this month that killed two students and injured nine others. Education Secretary Linda McMahon says reporting in the wake of the incident shows that Brown's surveillance and security systems may not have met adequate standards allowing the suspect to escape. She also says Brown students and staff reported that emergency notifications about the active shooter were delayed.

4:40It's turn to markets now, Karen. Stocks are holding ground after a strong run. Traders are awaiting some of the last remaining data sets of 2025 to see whether they materially shift expectations for interest rate cuts in the new year. The S &P 500 was poised to open little changed after a three-day rally that's pushed the benchmark within reach of a new all-time high. Liz Ann Saunders is chief investment strategist at Charles Schwab. I have to look below the surface of the cap-weighted indexes to get a fuller picture, particularly in the last couple of months, where you haven't seen a big drawdown at the index level, even though we've seen some of the mega cap prior leaders go through a bit of a pullback phase.

5:21But you've just seen broader participation. You know, over the last six months or so, it's only in the teens in terms of the percentage of constituents within the S &P that's outperformed the index itself. That's Charles Schwab's Lizanne Saunders. Meanwhile, gold has risen to a record high for the 50th day this year on escalating geopolitical tensions and prospects for more rate cuts. Silver is also at an all-time peak. Nathan, Federal Reserve Governor Stephen Myron said the U.S. Central Bank risks sparking a recession unless it continues lowering interest rates next year. And Myron spoke with Bloomberg surveillance.

5:57For the last few months, we've had data come out in accordance with, I think, my view of the world. The inflation data has steadily come in cooler than expectations. The unemployment rate has poked up potentially above where people thought it was going to go. And so we've had data that should push people into a dovish direction. And I think it's somewhat problematic if you see those data coming out and you don't adjust your policy prescriptions in a dovish direction. What does that say about the reactiveness of policy to the economy? You know, I think it looks very it reflects very poorly upon the institution at the end of that.

6:26And that's Stephen Myron, and he's argued for larger cuts since he joined the Fed's board of governors in September. His term ends in January. For the full conversation, head over to the Bloomberg podcast channel on YouTube. Karen, we continue to track the latest in the Warner Brothers Discovery bidding war, and the latest is Larry Ellison has pledged$40 billion of his personal wealth to boost Paramount Skydance's bid for the entertainment giant. The billionaire built his fortune with Oracle. He's aiming to give his son, Paramount CEO David Ellison, the advantage in the fiercely contested battle with Netflix.

7:01Bloomberg Intelligence senior credit analyst Stephen Flynn says it's just one of a number of adjustments meant to strengthen Paramount's bid. Yeah, well, so mid last week, the Warner Brothers Discovery Board recommended shareholders do not participate in the tender offer. And they listed reasons why. Now, what Paramount this morning has done is kind of address many of those reasons, particularly given the Larry Ellison guarantee. So I believe Paramount is going to see how many shares they get to participate in the tender offer. And if they need to, you know, conversations with shareholders, if they need to raise it to a certain level that they're still comfortable with, I imagine that's what they would do.

7:34It's Stephen Flynn of Bloomberg Intelligence. Now, Warner Brothers has confirmed it has received Paramount's amended offer and says it will evaluate it, but the company says it still supports Netflix's competing bid. On company news, Nathan, Novo Nordisk has won approval to sell a pill version of its blockbuster obesity drug, Wigobi, in the U.S. According to a statement, Novo will start selling the pill in the U.S. in January to patients at a starting price of$149 a month in cash, or potentially for as little as$25 per month with insurance coverage. Begin more with Bloomberg's Amber Tong. While the injectables have been hugely successful, there has been a lot of talk that an oral pill would provide a much more convenient option for patients.

8:17There are people who may be afraid of needles and they don't want to get injections. They would prefer to take a pill once a day instead to meet their weight management needs. And a pill form of the obesity drug is also much easier to transport and store because it doesn't require refrigerators, unlike the injectables. And Bloomberg's Amber Anna Tong adds that it's a crucial step in Novo's effort to defend its market share from rival Eli Lilly, which says its own oral obesity drug could be approved by March.

8:49Time now for a look at some of the other stories making news in New York and around the world. And for that, we're joined by Bloomberg's Michael Barr. Michael, good morning. Good morning, Karen. More than an estimated record, 122 million Americans plan to travel more than 50 miles from home this year for the holidays. However, there will be some rough travel spots across the nation as we approach Christmas. Bloomberg meteorologist Craig Allen has the latest. Today, here in the Northeast, we have a combination of snow and rain with winter weather advisories for two to as much as six inches of snow in higher terrain areas.

9:22in the Poconos like in Pennsylvania, Catskills of New York, New England. Thankfully, the major I-95 cities should be wet and not snow covered, but the other big problem will be the West Coast. Almost the entire state of California is under a flood watch into the week and big snows in the mountain passes, and there will definitely be substantial road and airport delays right through Christmas Day. Bloomberg meteorologist Craig Allen. A federal judge has ruled the U.S. government cannot re-detain Kilmar Abrego Garcia through the Christmas holiday. The Maryland man and Salvador native was released Monday.

10:00His attorney, Simon Sandoval-Motionberg, said the federal government is trying to keep his client locked up without a trial. To me, at least, it's clear that the government is willing to do whatever it takes, sort of give any legal justification, any factual justification whatsoever to put this man back into a detention center. Attorney Simon Sandoval-Motionberg says a new hearing is scheduled for Friday. We're learning more about New York Mayor-elect Zoran Mamdani swearing in on January 1st. It includes a midnight ceremony when New York Attorney General Atisha James will administer the oath of office.

10:36Later on New Year's Day, Senator Bernie Sanders will give the oath again during a public ceremony on the steps of City Hall. After that, a citywide block party will be held along Broadway. Global News, 24 hours a day and whenever you want it. With Bloomberg News Now, I'm Michael Barr, and this is Bloomberg. Karen. Thanks, Michael. Time now for our Bloomberg Sports Update, and for that, we bring in John Stashauer. Thanks, Karen. Monday Night Football was in Indianapolis. The 49ers scored touchdowns on their first three possessions. They never punted. They got five touchdown passes from Brock Purdy, and the Niners beat the Colts 48-27.

11:16They've won five in a row. The Colts have now lost their last five. The NFL has suspended Pittsburgh Steelers wide receiver D.K. Metcalf for two games. He had an altercation with a fan in Detroit last Sunday. Metcalf is appealing. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. Today's show is brought to you by Vanguard. To all the financial advisors listening, let's talk bonds for a minute. Capturing value and fixed income is not easy. Bond markets are massive, murky, and let's be real, lots of firms throw a couple flashy funds your way and call it a day.

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13:47of oil vessels going in and out of Venezuela. But President Trump says his effort to go after Venezuelan President Nicolas Maduro won't end there. And soon we'll be starting the same program on land. The land is much easier. But every one of those boats that we knocked out saved 25 ,000 lives. President Trump speaking there at a Mar-a-Lago news conference where he unveiled a new class of warship dubbed Trump class. For more, we're joined by Bloomberg D.C. breaking news editor, Alexander Pearson. It was a wide ranging conversation, Alex, with President Trump leveling tough words at Nicolas Maduro.

14:25But did we get any further clarity on his strategy with Venezuela? Good morning. Good morning, Nathan. Yeah, it was a very wide ranging speech and particularly on Venezuela. We got sort of actually some mixed signals in a way because it was a combative speech with regard to Maduro. And that's the tone that President Trump's had for many weeks and months now. But it was interesting to note that he was asked whether he would try to actually oust President Maduro from Venezuela. And he said that would be up to Mr. Maduro. And that was a bit softer, it seemed, than what some of his cabinet officials had said.

15:04Even yesterday, Homeland Security Secretary Kristi Noem had said that President Maduro needs to be gone, which very much suggested that that would be the end goal of this maximum pressure campaign that the Trump administration has been pursuing towards Venezuela. But President Trump himself did not want to commit to that, at least explicitly. So that was interesting to know. But in terms of everything else, he said, we didn't learn that much new. He has been threatening land strikes for some time now. and the overall tone towards Venezuela was still the same as it has been for many weeks. And if you want to call it a threat, we've also heard the president sort of reiterating his desire for U.S.

15:50control of Greenland. What did he have to say there? Yeah, that's right. He reiterated this desire that the U.S. should take over Greenland And he very much couched it in terms of national security. He said that, you know, without Greenland, the U.S. is essentially quite exposed to threats from Russia and China. And what's interesting to note is actually this isn't really new. He has been saying more or less the same thing throughout the year. But in the last few weeks and months, it hasn't actually come up much in his speeches. So it seems to now be, you know, very much in his thinking again.

16:30And it does come on the heels of him announcing a new special envoy to Greenland. Unfortunately, he did not really provide any details as to, you know, what the strategy there is in terms of taking over Greenland. In his first time, he suggested, you know, purchasing it from Denmark. But, you know, for the longest time, he's never really laid out a game plan for how he wants to achieve that in this term. And last night he didn't provide any more details other than, you know, he would really like to see Greenland become, you know, for the U.S. to take over Greenland. And in our last 30 seconds, Alex, the president continues to face questions around the disclosures in the Jeffrey Epstein files.

17:07What's he saying there? Yeah, so we had the batch on Friday that was released by the Department of Justice. It was only partial. And many prominent figures were seen in those files, including former President Bill Clinton. And interestingly enough, President Trump yesterday actually voiced some sympathy for President Clinton that his reputation had been tarnished through the release and said, you know, the overall affair was essentially quite a sad one. But he did not speak to actually the major issue, which is the fact that the Justice Department has not released all the files that it actually by law should have done by Friday.

17:43So that was sort of the omission was actually the most interesting thing about that speech. This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m. Eastern each morning on Apple, Spotify or anywhere else you listen. You can also listen live each morning starting at 5 a.m. Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston and nationwide on Sirius XM Channel 121. Plus, listen coast to coast on the Bloomberg Business app, now with Apple CarPlay and Android Auto interfaces.

18:21And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it, in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Karen Moscow. And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

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