Episode Transcript
News when you want it with Bloomberg News Now.
I'm Dan Schwartzman.
A federal appeals court ruled that President Trump acted illegally when he imposed global tariffs through emergency powers.
Judges said the law he used allows sanctions and asset freezes, but not duties or taxes.
We heard earlier from Republican Senator James Langford of Oklahoma.
He spoke to NBC's Meet the Press, as heard on Bloomberg Radio.
Speaker 2We have ten trade deals that have now been done in seven very short months with major countries like the EU, with the UK, with the Philippines, with Indonesia, South Korea, Japan.
And these are enormous trade agreements that have happened.
And so for the court to step in and say, hey doesn't have the ability to be able to regulate trade that is within the statute, and it is now going to go to the Supreme courts to be able to determine that.
Speaker 1Oklahoma Senator James Langford speaking to enbc's Meet the Press.
The tariff's remained in effect while the legal battle continues.
Trillions of dollars in trade are at stake, along with demands for refunds.
Already paid.
Chicago Mayor Brandon Johnson is taking steps to yield the city from a potential federal deployment.
He signed an executive order on Saturday which bans federal officers from disguising themselves, part of what he calls protecting residents' rights.
Here's Johnson speaking to reporters.
Speaker 3We have received credible reports that we have days, not weeks before our city see some type of militarized activity by the federal government.
It is unclear at this time what that will look like exactly.
Speaker 1President Trump has threatened to deploy the National Guard, as he did in DC, and criticized Governor JB.
Pritzker for opposing outside intervention.
Johnson said Chicago will resist any such move, noting crime in the city's already down double digits across major categories.
Meantime, Homeland Security Secretary Christy Nomes says the federal crime and immigration crackdown will not be limited to Chicago.
She spoke Sunday to CBS's Faced the Nation.
Speaker 4We will continue to go after the worst of the worst across the country, like President Trump has told us to do, focusing on those that are perpetuating murder and rape and trafficking of drugs and humans across our country.
Speaker 1That's DHS Secretary Christinome.
She noted that cities across the US, including those in Republican led states, could see increased federal deployments if crime rates rise.
The New York Times reports that Robert Muller, the former special counselor who led the Russia investigation during President Trump's first term, was diagnosed with Parkinson's disease four years ago.
Citing a Muller family statement, the Times added that Muller, a former FBI director, has had difficulties speaking and experienced mobility issues.
As a result.
A congressional committee has withdrawn a request from mister Muller to give testimony this week and its inquiry into the government's handling of the Jeffrey Epstein investigations.
Israel says it has eliminated Kihama spokesman Abu Obta in a Gaza City airstrike.
Obeta had become the face of Hamas's armed wing, often appearing on television with his face covered by a kafia.
Azrael has been attacking Gaza City, one of the last areas that is not under Israeli control.
According to reports, without Obeta Hamas has only three senior figures left in the entire Gaza strip.
We go to Business News next.
Spirit Aviation Holdings has filed for bankruptcy for the second time in less than a year.
That story from Bloomberg's Charlie Pellett.
Speaker 5The filing comes after it failed to turn around business at its cash strapped airline.
The carrier filed Chapter eleven Friday, listing assets and liabilities of between one and ten billion dollars.
The filing comes amid active negotiations with some of its largest lessors, secured note holders, and key stakeholders.
In a letter to customers, Spirits said the bankruptcy filing will not impact the airline's operations and will have no impact on tickets or its loyalty program.
In New York, Charlie Pellett's Bloomberg radio.
Speaker 1Drug maker Stata is close to being sold to London based bio firm cap Vest in a deal set to near twelve billion dollars.
According to reports, the deal could be finalized as soon as Monday, if there aren't any last minute hiccups, such as Stata's owners opting to pursue an IPO rather than a sale, and that's news when you want it.
With Bloomberg News Now, I'm Dan Schwartzman in This is Bloomberg