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Good morning, I'm Nathan Hager and I'm Karen Moscow.

Here are the stories we're following today.

Karen, we begin with new developments on those deadly wildfires still burning in the Los Angeles area.

Bloomberg's John Tucker joins us now with the very latest.

John, Nathan, the Los Angeles County Medical exam at are overnight now confirms ten people have died in the fires.

This resident of Pacific Palisades echoed the harsh reality.

Pacific Palisades right now could just be taken off the map.

It's there is no Pacific Palisades.

And finally a measure of good news, the Pacific Palisades fire showing early signs of control.

The Kenneth fire that broke out and expanded rapidly north of the one oh one Freeway is thirty five percent contained.

But with that comes news of a new blaze in the far west section of the city.

La Mayor Karen Bass.

We are expecting this fire who rapidly spread due to high winds.

President Elect Trump couldn't resist the urge to weigh in, taking aim at the governor and the mayor.

I think that Gavin is largely incompetent, and I think the mayor is largely incompetent, and probably both of them are just stone cold and competent.

What they've done is terrible.

The fires have scorched more than thirty thousand acres, They've raised homes and businesses, and forced about one hundred and eighty thousand residents to flee.

The economic losses have been estimated up to one hundred and fifty billion dollars, which would rank among the costliest natural disasters in modern US history.

I'm John Tucker, Bloomberg Radio.

All right, John, thank you.

Well, another story we're following this morning.

In just hours from now, President elect Donald Trump will be sentenced for his conviction in the New York hush money criminal case.

This comes after the Supreme Court refused to interfere.

Bloomberg Law anchor June Grosso says Trump will not be sentenced to any time behind bars.

Judge murshawan and lot of people when he first came out and said I'm not going to give him any sentence, said well, what's the point of the sentencing?

Then, well, the point is that now Trump couldn't say that, Oh, the judge may sentence me to time, or the judge may sentence me to probation, or who knows what.

Because the judge had said, I'm not going to sentence you to anything.

I'm going to give you what's called an unconditional discharge.

And basically what this is is a symbolic sentencing, so that Trump is now, yes, a convicted felon, and that felony is on the books in New York.

Bloomberg law Houster in Grosso says Trump can still appeal the verdict in New York state courts, and the case could ultimately return to the US Supreme Court for final resolution.

Well Karen, Attorney General Mayrick Garland is racing to release special counsel Jack Smith's report on Trump's effort to overturn the twenty twenty election, but a federal appeals court has left that in limbo.

The court rejected requests from Trump and his former co defendants to stop the report from becoming public, but the court also ruled that if the Justice Department wants to release it sooner, it has to challenge a lower court ruling that delayed the release by another three days.

DOJ lawyers filed that challenge after our hours after the Appeals Court decision, Trump's associates could also appeal this ruling or ask the Supreme Court to step in.

Well, Nathan, it's now just ten days until Donald Trump takes the oath of office for a second time, and he's promised a flurry of actions on day one.

Now we're getting the details on what he's got planned, and we get that story with Bloomberg's Jeff Billinger.

Trump is planning executive orders on immigration, energy, federal workers, and regulatory reform in his first few hours in office.

Bloomberg News has learned.

The immigration orders include tighter restrictions on border crossings, a mandate to finish unbuilt portions of the border wall, a framework for carrying out mass deportations, and in order to withhold federal resources from sanctuary cities.

The President elect is also planning a federal hiring freeze and a return to officeman date for federal wars.

And on energy, Trump is expected to authorize drilling on federal lands.

Jeff Bollinger, Bloomberg Radio.

Okay, Jeff, thank you.

President elect Trump says he's planning to meet with Russian President Vladimir Putin.

After he takes office.

At a meeting with Republican governors at mar A Lago, Trump told a reporter that the Russian leader wants to meet and they are setting it up.

We get more from Bloomberg's John Hirskovitz.

Trump said that if a meeting were to come, it would come after the inauguration.

There's no set date, no set time, just this announcement that he's looking to have the meeting.

Bloomberg's John Herskovitz reports the Kremlin says there are no specifics on a meeting, but Putin has repeatedly stated that he is open to talking with President elect Trump.

Well Nathan A confirmation hearing is set for one of Donald Trump's key appointments Todays before he takes office.

Scott Bessen, Trump's nominee for a Treasury secretary, will appear before the Senate Finance Committee next Thursday.

Think Karen, the current president, is getting slammed by one of the world's most v companies, and Nvidia is criticizing new chip export restrictions expected to be announced soon by the Biden administration.

The company says the White House is trying to undercut the incoming administration by imposing last minute rules.

The ar Darling says those.

New rules will harm the US economy and do nothing to promote national security.

In the pre market, shares of Nvidia are down more than one percent.

Well, let's turn to the markets now, Nathan and Wall Street gets back to work with a huge economic report on the agenda.

We get the December jobs report later this morning, and here's a preview with Bloomberg's Michael McKee.

The number of jobs created in December will be a surprise for someone.

The range of forecasts is unusually wide, from one hundred twenty thousand to two hundred and sixty eight thousand, reflecting differing views of the state of the labor market.

Something near the low end would be the only thing to bother FED officials.

However, minutes of their last meeting released this week made it clear they feel labor markets remain in good shape.

The unemployment rate matters or to the central bankers, any big rise could be seen as a reason to reconsider this suggestion.

They will pause rate cuts this month.

Michael McKee Bloomberg Radio.

Mike, thank you, and for those employed on Wall Street, it could be a big bonus season.

According to people briefed on the plans.

Executives at top investment banks are planning to award traders and deal makers with their largest bonus increases since the pandemic.

Ten percent hikes are more expected at many desks.

The bonus increases reflect an upturn in business and optimism for the year ahead, and are intended to help retain employees in a competitive industry.

And it's time now for 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.

Former President Jimmy Carter was interred alongside his late wife Rosland Carter in Plains, Georgia, the same town where they were born, lived most of their lives, and died yesterday.

Carner was hornored with dual funerals.

His afternoon funeral and Plains was a small affair limited to family, friends and members of Marinatha Baptist Church.

Carter's personal pastor, Tony Loden, said the former president dedicated his life to service.

His covenant to spread joy is a testament to his character.

In his leadership, he advocated for justice, fairness and equality for all people, regardless of race, creed, or gender in America all around the world.

Earlier Thursday, President Joe Biden eulogized the thirty ninth president at Carter state funeral in Washington.

I miss him, but I take solace and knowing and he is beloved.

Rosland are reunited again.

Jimmy Carter died December twenty ninth at age one hundred.

A man who fled to avoid serving a nine month prison sentence for storming the US Capitol on January sixth has been arrested in Canada.

Anthony Voe from Bloomington, Indiana, was arrested in Whistler, British Columbia.

He skipped out on a court order to report last June for his nine month prison stint.

Another blast of winter storms is closing schools, snarling flights, and putting millions of residents on alert across parts of the Deep South and south central US.

Heavy snowfall and icy conditions are likely today in Mississippi, Georgia, Kentucky, and Tennessee.

New York Mayor Eric Adams says the city plans to create one hundred thousand new housing units and invest six hundred and fifty million dollars to address homelessness and mental health issues.

Adams made the announcement during his fourth State of the City address at the Apollo Theater in Harlem.

When we came into office, we said the days of letting people language on our streets as subways were over.

It was not safe, it was not humane, and it was not going to continue under our launch.

Mayor Adams also proposed an expansion of programs involving youth mentorship, career readiness, and college preparation.

Global news twenty four hours a day and whenever you wanted with the Bloomberg News.

Now Michael Barr, and this is Bloomberg.

Karen, Sorry, Michael Barr, thank you time now for the Bloomberg Sports Update, brought to you by Tri State Outie.

Here is John Stanshawer.

John, Good morning, Good morning care And there are a lot of one sided games through the first two rounds of the expanded college football left.

Not the case in Miami's.

The semifinals began with the orange ball.

Penn State had a ten to nothing lead.

Notre Dames toward the next seventeen had two long second half touchdown drives Nicholas Singleton scored three times for Penn State, twice at a two and a half minute span of the fourth quarter to retake the lead, and then a long bean time strike by Notre Dame.

To go second down at eight ten.

State leads by a touchdown letter thrill.

Food open Charin and glide us a fine a Jarlin, red of Stars set State.

Si yes being the ball, and then after an interception Mitche send Notre Dame into the championship game of the forty one yard field goal second seven seconds left.

The Irish won twenty seven to twenty four.

The second semifinal game is tonight in Dallas, Texas and Ohio State.

The NFL has moved Monday's playoff game between the Rams and Vikings out of Los Angeles.

It'll be played in Phoenix.

Rams coach Saan McVay spoke yesterday in.

La those deals that almost doesn't feel real, but it certainly is real to the people that are affected, and you know, praying, you know that as many people are okay, and you know, you just see the amount of people that are affected in it's you know, it's one of those deals that you know, it gives you perspective.

Chargers had their final practice in LA before going to Houston for tomorrow's playoff game.

Joey Bosa lives near an evacuation area, said he hopes he still has his house when he gets back.

Lakers home game with Charlotte postpone.

Lakers coach JJ Reddick lives in Palisades.

His home has been lost, same with the home that Golden State coach Steve Kirk grew up in.

His ninety year old mother had to be evacuated at the Garden Range.

With the Devil's three two Sam Carrick goll midway through overtime, Islanders a four nothing win in Vegas.

Rutgers lost at home to Produce sixty eight to fifty.

Nick Hos to Oklahoma City tonight, the Thunder lead the West at thirty and six.

John Stanshy I learned Bloomberg Sports Tarny eating.

Coast to Coast on Bloomberg Radio, nationwide, on Sirius Exam, and around the world on Bloomberg dot Com and the Bloomberg Business app.

This is Bloomberg Daybreak.

Good morning.

I'm Nathan Hager.

Both President dele Like Donald Trump and the Biden administration have taken legal hits.

With less than two weeks before Trump returns to the White House.

The Supreme Court is refusing to delay this morning sentencing in Trump's New York hush money conviction, and an appeals court is keeping the release of special counsel Jack Smith's report on Trump in limbo.

Now, when it comes to the Supreme Court case, the President delect says he's okay with the decision.

I respect the court's opinion.

It was a I think it was actually a very good opinion for us because you saw what they said.

But they invited the appeal, and the appeal is the bigger issue.

President Elect Trump spoke there with the reporter at mar Lago.

Joining us this morning is Terry Haines, the founder of Pangaeopolicy.

Great to speak with you again this morning, Terry.

And that bigger issue that the President elect is talking about is the issue of presidential immunity and whether it applies to a president elect.

So could we see this case continue even after this morning sentencing?

Good morning, good morning data.

Yeah, we could probably see it continue in the sense that you know, these things are like the walking dead, and it seems to never go away.

But they were, I to be advising the president elect, I would not advise him to get to be too optimistic about this.

You know, the the court's points were really twofold.

First is the issues can be handled in the regular appeals process, and secondly that the sentencing today won't be a burden on the president elect in any way.

Those are both true.

The broader issue, though, as far as immunity goes, is the presidential immunity goes, I think does not end up in Trump's favor.

Whatever else this is, it's not presidential conduct.

Presidential immunity.

The courts drew a fairly tight reign around the issue of presidential immunity and its recent decision.

It is not the open ended immunity.

A lot of people like to say politically that it might be.

So what's going to end up happening here?

I think more likely than not is that the conviction ends up standing because it's whatever else it is, it's that of a private citizen.

How much do you expect this issue, the presidential immunity issue, to continue to be a focus for president like Trump once he becomes president in less than two weeks.

When we're hearing that he's already.

Got a flurry of executive orders planned on a bunch of issues.

Well, I think it's you know, I think it's a minor irritant for Trump, and I think the sentencing is a political positive.

The unbalanced.

Frankly, you had this massive campaign to destroy and harass Trump, bring all kinds of lawsuits, justified or otherwise, and the net result of it looks like the equivalent of a parking ticket, and that'll be uh and that'll be used, I think politically well for Trump and put everybody back on their heels, particularly when you consider it against the backdrop of all the troubles that are going on in New York City, some of which you were just all reporting on the perception of crime, the homeless, subways, and everything else makes the city look like its own priorities are out of whack.

On the immigration issues that you know, they're relevant for markets, because there's there's going to be a signal on day one on immigration matters.

Are we talking about only targeting criminals, which Trump and his people have been saying for some time.

Are we only talking about a subset of people who shouldn't be in the country anyway?

Are we talking about some kind of mass deportations the way that the lot of the press likes to talk about this will be relevant for skilled workers, the H one b vs.

The issue, and a whole bunch of other things.

So markets will be looking at that, I think with some trepidation and react our.

Last minute terry.

The president ellect also says a meeting is being arranged some time after the inauguration with Russian President Vladimir Putin.

How concerned does Ukraine need to be?

I don't think Ukraine needs to be concerned.

The question is going to be for Ukraine is exactly what Trump's trying to do and whether Ukraine will be involved in the process.

And Trump says that they will be that of course they'll be end up being signatorius to whatever deal there is.

You know, but I looked at this as a little bit vaporous without disparaging the president elect, you know, the idea that there might be some meeting, of course, has been mooted out there for some time, So continue to tickle that.

I think it doesn't really move the ball forward in any way or Today.

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I'm Karen Moscow.

And I'm Nathan Hager.

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