From Bloomberg Politics Balance of Power newsletter today:
With the trade war starting to wallop global markets, U.S. and Chinese negotiators will face increased pressure to show progress next week in Beijing.
The talks, confirmed by China on Friday, will be the first since Donald Trump and Xi Jinping reached a truce in Argentina on Dec. 1. They will consist of mid-level officials and cover issues ranging from agriculture to intellectual property.
Analysts expect both sides to convey progress next week. Yet they remain doubtful a lasting agreement can be reached that ends the trade war once and for all while the gap between them remains so wide.
-U.S. Payrolls Rise 312,000 as Wage Gains Exceed Forecasts (Bloomberg)
-Fed’s Jerome Powell Pledged Allegiance to Data and Some of It Looks Grim (Bloomberg)
-Market Swoon Raises Stakes for U.S.-China Trade Talks Next Week (Bloomberg)
Best Stock Picker of 2018: Fidelity Fund Kept Winning in Ailing Market, Thanks to Eddie Yoon (Bloomberg Opinion: Matthew A. Winkler)
Mike Bloomberg Announces $2.5 million Award for St. Petersburg Climate Change Efforts (Tampa Bay Times)
The $2.5 million worth of technical resources will help St. Petersburg significantly expand access to solar energy, particularly among lower income residents, promote transportation alternatives and reduce energy use in public and privately owned buildings.
Bloomberg finished with a stop at Paul’s Chicago Pizza, where he hailed the efforts of volunteers Mom’s Demand Action, a group advocating for stronger gun laws.
“I refuse to fall into the trap of making this a partisan issue. Everybody, no matter what their political persuasion should want safety for their families and their children,” said Bloomberg.
Bloomberg laughed off the suggestion that Tampa Bay’s outsized electoral significance drew him to St. Petersburg Thursday. “It would be very expensive if you had to give a gift to every city where you’re looking for votes,” quipped Bloomberg.
2018: A Record-Setting Year of Philanthropy at Bloomberg:
Bloomberg LP set a new record of 161,000 volunteer hours globally in 2018, Mike Bloomberg wrote in an email to Bloomberg’s 20,000 employees today. He said the company “had another incredible year in volunteering, from our pro bono legal work, to teaching new skills to young students, to helping hungry neighbors” and thanked everyone who helped the company “give back to the communities where we live and do business.”
Click here to read the Best of Bloomberg Year in Review report that highlights numerous philanthropic initiatives and their results.
And read this blog post that calls out three ways Bloomberg LP’s philanthropy and engagement helped change the world in 2018.
NYC Transit News: Brooklynites Cheer the L Train’s Rescue, Unless They Moved (Bloomberg)
Click here to read about how the MTA plans to repair the tunnels damaged by Hurricane Sandy.
Best of late night.
IHOP is now making their own beer. It’s perfect for people who think Waffle House beer is just a little too trashy.
Los Angeles International Airport has updated its policy to allow travelers to pack marijuana when flying. And every person who was happy to hear that missed their flight.