May 1, 2024 • 5 mins
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Speaker 1 (00:01):
News when you wanted With Bloomberg News Now, I'm Brian
Curtis in Hong Kong, New York. Police have cleared thirty
to forty people from inside Columbia University's Hamilton Hall. This
is after pro Palestinian protesters occupied the administration building in
New York earlier in the day. Police wearing helmets and
carrying riot shields masts at the university's entrance. Officers breached
(00:23):
Hamilton Hall to clear the structure. The demonstrators had occupied
the hall more than twelve hours earlier. Also, lawmakers are
calling more university leaders to Capitol Hill to testify about
anti Semitism on campus. Bloomberg Nancy Lyons reports.
Speaker 2 (00:39):
With pro Palestinian protests and encampments growing at universities across
the country, the House Committee on Education in the Workforce
is expanding its questioning about campus activity. It's now calling
on the presidents of Yale, the University of Michigan, and
UCLA to testify May twenty third. The presidents of Harvard,
MIT and Penn appeared before the committee in December, while
(00:59):
the president Cident of Columbia testified in early April. Most
who have appeared before the Committee have been criticized by
some lawmakers as being evasive and overly legalistic. In Washington,
Nancy lyons Bloomberg Radio, Donald.
Speaker 1 (01:12):
Trump was found in contempt of court and fined nine
thousand dollars. The New York judge overseeing Trump's hush money
trial ruled that the former president repeatedly blasted key witnesses
on social media and that was in violation of a
gag order. Bloomberg legal Anuelest june Grosso said the judge
didn't buy the former president's defense.
Speaker 3 (01:32):
Reposting is still your language, so if you repost, that
doesn't get you off the hook. And also Donald Trump
and his lawyers kept saying, well, we have to respond
in kind to what people say about us, to what
these witnesses are saying about us, And the judge asked
him that day, well, show me an example, what were
you responding to And the judge found that they weren't.
(01:54):
He wasn't responding to anything.
Speaker 1 (01:56):
June Grosso there the judge warned that any future breaches
by the former president could result in jail time. Both
Republicans and Democrats are publicly saying they are not working
together to save Speaker Mike Johnson's job, but Bloomberg's Ed
Baxter reports they are framing the argument.
Speaker 4 (02:14):
There's been much talk that the Democrats will save Johnson,
and it looks as if that is happening. But Johnson
says there is no deal. I've not requested assistance from anyone.
I'm not focused on that at all. I've focused on
getting the job done and getting the legislation passed.
Speaker 1 (02:29):
And that's what.
Speaker 4 (02:30):
No, there's no deals at all.
Speaker 5 (02:31):
No, not at all.
Speaker 4 (02:31):
And Democrat peyte Aguilar says no deal. Says the vacate
motion was not discussed in caucus. The motion the table was,
and there is a distinction there, although the immediate outcome
is apparently the same. At Baxter Bloomberg Radio.
Speaker 1 (02:50):
In other news, investors have been waiting for the Drug
Enforcement Agency to reconsider the classification of marijuana. Now the
Biden administration is starting the process. Bloomberg's Amy Morris reports
from Washington.
Speaker 5 (03:03):
The Justice Department will recommend easing restrictions on marijuana. This
is just the first step to a lengthy process that
would be a major change to federal policy, including a
review by the courts and a comment period. Under the proposal,
marijuana would be moved from its current classification alongside heroin
and LSD, to a less stringent classification closer to ketamine
(03:23):
and anabolic steroids. It would reclassify marijuana as less dangerous,
but would not legalize marijuana for recreational use. Attorney General
Merrit Garland has indicated he'll in Dorset. Cannabis stocks were
trading higher on the news. Amy Morris, Bloomberg Radio.
Speaker 1 (03:37):
Amazon had a big beat on earnings with strong performance
in its cloud unit. AWS. Sales were twenty five billion
dollars in the March quarter, up seventeen percent from a
year earlier. Ana Agrana of Bloomberg Intelligence says he's impressed
with the company's margins.
Speaker 6 (03:53):
So, I mean, I I just can't believe how big
this number is. At thirty seven point six percent operating
margins compared to Oustius twenty four percent, So that's almost
you know, fourteen percent increase in that That is this
phenomenal and basically shows the scalability of this business model.
And you know, frankly speaking, we weren't expecting these kinds
of margins for several years out. So I think this
(04:14):
is this should be really good. Signed for investors that
this is really a good business model.
Speaker 1 (04:20):
Amazon saw a thirteen percent increase in overall revenue. That said,
Amazon gave a tepid forecast for overall sales in the
current quarter, and the shares were fractionally higher only in
late trading. Meanwhile, AMD gave a lukewarm revenue forecast for
the current period and the quarter just reported revenue from
the gaming division fell short of projections. Overall, the company
(04:43):
is expecting to get a boost from a push into
AI accelerators. Stock traded down round six percent in after hours.
Binance founder Jung Pung Chao has been sentenced to four
months in prison. The judge said that Jaw and his
firm Binance allowed cyber criminals and terrorists to trade freely
on the firm's crypto exchange. We get more from Bloomberg's June.
Speaker 3 (05:05):
Grosso prosecutor said they wanted three years. They wanted double
the highest level of the sentence and guidelines because they
wanted to set an example for you know, sort of
like a Sam Bankman Freed example. But sizy Is is
not excused of the same things that Sam Bankman Freed
was accused of, and the judge said that he thought
that that Cez didn't know about the content of some
(05:28):
of the things that were going on on the platform.
Speaker 1 (05:31):
Jaw has already paid a fifty million dollars fine and
has stepped down as the CEO of Binance. That's news
when you want it with Bloomberg News Now. I'm Brian Curtis.
This is Bloomberg
News when you wanted With Bloomberg News Now, I'm Brian
Curtis in Hong Kong, New York. Police have cleared thirty
to forty people from inside Columbia University's Hamilton Hall. This
is after pro Palestinian protesters occupied the administration building in
New York earlier in the day. Police wearing helmets and
carrying riot shields masts at the university's entrance. Officers breached
(00:23):
Hamilton Hall to clear the structure. The demonstrators had occupied
the hall more than twelve hours earlier. Also, lawmakers are
calling more university leaders to Capitol Hill to testify about
anti Semitism on campus. Bloomberg Nancy Lyons reports.
Speaker 2 (00:39):
With pro Palestinian protests and encampments growing at universities across
the country, the House Committee on Education in the Workforce
is expanding its questioning about campus activity. It's now calling
on the presidents of Yale, the University of Michigan, and
UCLA to testify May twenty third. The presidents of Harvard,
MIT and Penn appeared before the committee in December, while
(00:59):
the president Cident of Columbia testified in early April. Most
who have appeared before the Committee have been criticized by
some lawmakers as being evasive and overly legalistic. In Washington,
Nancy lyons Bloomberg Radio, Donald.
Speaker 1 (01:12):
Trump was found in contempt of court and fined nine
thousand dollars. The New York judge overseeing Trump's hush money
trial ruled that the former president repeatedly blasted key witnesses
on social media and that was in violation of a
gag order. Bloomberg legal Anuelest june Grosso said the judge
didn't buy the former president's defense.
Speaker 3 (01:32):
Reposting is still your language, so if you repost, that
doesn't get you off the hook. And also Donald Trump
and his lawyers kept saying, well, we have to respond
in kind to what people say about us, to what
these witnesses are saying about us, And the judge asked
him that day, well, show me an example, what were
you responding to And the judge found that they weren't.
(01:54):
He wasn't responding to anything.
Speaker 1 (01:56):
June Grosso there the judge warned that any future breaches
by the former president could result in jail time. Both
Republicans and Democrats are publicly saying they are not working
together to save Speaker Mike Johnson's job, but Bloomberg's Ed
Baxter reports they are framing the argument.
Speaker 4 (02:14):
There's been much talk that the Democrats will save Johnson,
and it looks as if that is happening. But Johnson
says there is no deal. I've not requested assistance from anyone.
I'm not focused on that at all. I've focused on
getting the job done and getting the legislation passed.
Speaker 1 (02:29):
And that's what.
Speaker 4 (02:30):
No, there's no deals at all.
Speaker 5 (02:31):
No, not at all.
Speaker 4 (02:31):
And Democrat peyte Aguilar says no deal. Says the vacate
motion was not discussed in caucus. The motion the table was,
and there is a distinction there, although the immediate outcome
is apparently the same. At Baxter Bloomberg Radio.
Speaker 1 (02:50):
In other news, investors have been waiting for the Drug
Enforcement Agency to reconsider the classification of marijuana. Now the
Biden administration is starting the process. Bloomberg's Amy Morris reports
from Washington.
Speaker 5 (03:03):
The Justice Department will recommend easing restrictions on marijuana. This
is just the first step to a lengthy process that
would be a major change to federal policy, including a
review by the courts and a comment period. Under the proposal,
marijuana would be moved from its current classification alongside heroin
and LSD, to a less stringent classification closer to ketamine
(03:23):
and anabolic steroids. It would reclassify marijuana as less dangerous,
but would not legalize marijuana for recreational use. Attorney General
Merrit Garland has indicated he'll in Dorset. Cannabis stocks were
trading higher on the news. Amy Morris, Bloomberg Radio.
Speaker 1 (03:37):
Amazon had a big beat on earnings with strong performance
in its cloud unit. AWS. Sales were twenty five billion
dollars in the March quarter, up seventeen percent from a
year earlier. Ana Agrana of Bloomberg Intelligence says he's impressed
with the company's margins.
Speaker 6 (03:53):
So, I mean, I I just can't believe how big
this number is. At thirty seven point six percent operating
margins compared to Oustius twenty four percent, So that's almost
you know, fourteen percent increase in that That is this
phenomenal and basically shows the scalability of this business model.
And you know, frankly speaking, we weren't expecting these kinds
of margins for several years out. So I think this
(04:14):
is this should be really good. Signed for investors that
this is really a good business model.
Speaker 1 (04:20):
Amazon saw a thirteen percent increase in overall revenue. That said,
Amazon gave a tepid forecast for overall sales in the
current quarter, and the shares were fractionally higher only in
late trading. Meanwhile, AMD gave a lukewarm revenue forecast for
the current period and the quarter just reported revenue from
the gaming division fell short of projections. Overall, the company
(04:43):
is expecting to get a boost from a push into
AI accelerators. Stock traded down round six percent in after hours.
Binance founder Jung Pung Chao has been sentenced to four
months in prison. The judge said that Jaw and his
firm Binance allowed cyber criminals and terrorists to trade freely
on the firm's crypto exchange. We get more from Bloomberg's June.
Speaker 3 (05:05):
Grosso prosecutor said they wanted three years. They wanted double
the highest level of the sentence and guidelines because they
wanted to set an example for you know, sort of
like a Sam Bankman Freed example. But sizy Is is
not excused of the same things that Sam Bankman Freed
was accused of, and the judge said that he thought
that that Cez didn't know about the content of some
(05:28):
of the things that were going on on the platform.
Speaker 1 (05:31):
Jaw has already paid a fifty million dollars fine and
has stepped down as the CEO of Binance. That's news
when you want it with Bloomberg News Now. I'm Brian Curtis.
This is Bloomberg
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