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What We Know with Max Foster
Trump "Very Angry" About Alleged Attack On Putin Residence; Israeli PM Netanyahu Meeting With Trump At Mar-a-Lago; Trump Says U.S. Struck "Big Facility" In Venezuela; British Boxer Anthony Joshua Injured In Deadly Car Crash; Trump And Netanyahu Take Questions After Florida Meeting. Aired 3-4p ET
Aired December 29, 2025 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[15:00:25]
ISA SOARES, CNN HOST: The U.S. president says he's angry over disputed claims from the Kremlin.
This is WHAT WE KNOW.
It could be a major blow to hopes to bring an end to Russia's war with Ukraine. U.S. President Donald Trump says he's very angry about an
allegation by the Kremlin that Ukrainian drones targeted one of Russian President Vladimir Putin's residences.
Have a listen.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: It's a delicate period of time. This is not the right time. It's one thing to be offensive because
they're offensive. It's another thing to attack his house. It's not the right time to do any of that and can't do it. And I learned about it from
President Putin today. I was very angry about it.
(END VIDEO CLIP)
SOARES: Well, Kyiv is rejecting that claim by Moscow. Ukraine's President Volodymyr Zelenskyy is calling the allegation another lie from the Kremlin
and an attempt to undermine diplomacy.
Mr. Trump described the call he had earlier with President Putin as productive. He says a few very thorny issues remain in the negotiations,
but he didn't actually elaborate. The discussion followed a Sunday meeting at Mar-a-Lago between President Trump and President Zelenskyy.
Our Frederik Pleitgen joins me now from Berlin with more.
So, Fred, let's start off then, with that claim that we're hearing from the Kremlin. What more do we know? What is the Kremlin -- what light are they
shedding? Any proof at all at this stage?
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well, the Kremlin is saying that all of this happened overnight and in the early
morning hours, from the 28th to the 29th, and happened in the Novgorod area of Russia. I would say that's about two thirds of the way from Moscow to
Saint Petersburg, which actually, in the past has been an activity where Ukrainian drones have struck, but mostly oil and gas or pretty much always
oil and gas infrastructure, that the Russians have a great deal of up in that in that region.
And the Russians are saying, depending on reports, Sergey Lavrov, the foreign minister, saying 91 Ukrainian drones were involved, the Russian
military is saying that it shot down well over 40 Ukrainian drones. However, the Russians are saying that no one was injured in all of this and
that all of the drones that were flown there were taken down.
Now, the Russians have indeed not shown any video of that area, of any of the possible drones that were taken down. But at the same time, they do say
that they are going to revise the way that they deal with the Ukrainians, negotiating -- the negotiating that has been going on specifically, of
course, with the Trump administration, trying to find a way out of the conflict in Ukraine, and also a key that there will be retaliation by the
Russians, of course, seeming to indicate that there could be big missile and drone strikes coming up.
And that was one of the things, of course, that Volodymyr Zelenskyy said as well. He denied that the Ukrainians were behind any of this, that they flew
a drone strike or drone strikes on a residence of Vladimir Putin, but also claimed and accused the Russians of trying to find a pretext for further
drone and missile strikes on Ukraine specifically, possibly on the capital, Kyiv, Isa.
SOARES: Zelensky saying on Russia is at it again, using dangerous statements to undermine all achievements of our diplomatic efforts, he said
this alleged strike story is a complete fabrication intended to justify additional attacks against Ukraine and to undermine diplomacy.
Let's talk about diplomacy because, this this claim by the Kremlin comes, of course, after Sunday's meeting between President Zelenskyy and President
Trump, where progress seems between both men seems to be being made almost there is what we keep hearing. Talk us -- talk to us about the last 10
percent. They said about 90 percent there. Where are the challenges right now?
PLEITGEN: Yeah, 90 percent or over 90 percent. And President Trump, of course, said when he was standing next to the Israeli prime minister,
Benjamin Netanyahu, that some very thorny issues still remain. The Ukrainian president said that essentially there were still two major
issues. One of them is the future of the Zaporizhzhia nuclear power plant. That, of course, is on Ukrainian territory, which is held by the Russians.
The Ukrainians obviously want to know what the future of that is, where the energy from that power plant is going to go. That's an issue that
apparently hasn't been fully dealt with yet. But the big one is, of course, possible territorial concessions by the Ukrainians, specifically the Donbas
and Donetsk oblast in the east of Ukraine, where the Ukrainians apparently over the past couple of days, and specifically Volodymyr Zelenskyy, seemed
to be more open to the idea of territorial concessions, but at the same time said that all of that would require a referendum in Ukraine for the
Ukrainian people to have their say in all of that.
For that, the Ukrainians say there needs to be this ceasefire and the Russians are saying a ceasefire, a temporary ceasefire is not going to
happen because they believe Ukrainians would use that to regroup.
[15:05:08]
So, certainly, some very -- that certainly, probably the most thorny issue of them all.
On the question of security guarantees, which are absolutely key, the Ukrainians say for them, essentially, Volodymyr Zelenskyy has said that the
details have been hammered out. The big question right now is the duration of those security guarantees. Apparently, the Americans, this is what the
Ukrainians are saying, offered up 15 years for these security guarantees. The Ukrainians want longer than that. They say they want 30, 40 or even 50
years because they say, look, the current conflict has already been going on for over 10 years. And so, they'll say they want security guarantees for
a lot longer than that. And they say decades into the future would probably be necessary, Isa.
SOARES: Very briefly, just on that last point, Fred, did we ever hear from the Americans on the possibility of the 30, 40, 50 years that Zelenskyy is
proposing, allegedly proposing here on security guarantees.
PLEITGEN: Yeah. So far, we've not heard from President Trump whether or not that's going to be a possibility. We know from President Zelenskyy, from
the Ukrainian president that that that those 15 years were floated. One of the things, however, that the Americans are saying is they say that the
Europeans are obviously going to have to play a big role in those security guarantees. So, the duration could be different as far as the Europeans are
concerned, who, of course, have been very staunch allies of the Ukrainians, especially the Germans, the French and the Brits.
However, the Trump administration is saying that the security guarantees that it's willing to participate in are almost as good, they say, as being
a member of NATO, platinum security guarantees, I think, is what the Trump administration has called them. So they say these are strong guarantees.
But of course, the duration is going to be a big issue for the Ukrainians.
SOARES: Yes, I forgot about the platinum -- platinum security guarantees. That was -- that was said just before Christmas. Fred, as always, thanks
for the reminder. Good to see you.
Now to Florida, where President Trump is hosting Israeli Prime Minister Benjamin Netanyahu at his Mar-a-Lago resort this hour. And they are
discussing efforts to push forward the Gaza ceasefire, as well as challenges involving Iran, Lebanon, Syria and much more.
President Trump says he hopes to reach phase two of the Gaza deal very quickly, insisting again that Hamas must disarm something he has repeatedly
vowed not to do. Mr. Trump has also said he believes reconstruction in Gaza will begin pretty soon. He made those comments, of course, in the last hour
or so.
The International Criminal Court has issued an arrest warrant for Prime Minister Netanyahu over alleged war crimes in Gaza. But the U.S. does not
recognize the court's jurisdiction. President Trump had high praise for his longtime ally.
Just have a listen to this.
(BEGIN VIDEO CLIP)
TRUMP: The relationships been extraordinary. And Bibi is a strong man. He can be very difficult on occasion, but you need a strong man. If you had a
weak man, you wouldn't have Israel right now. Israel would have been -- you know, Israel with most other leaders would not exist today.
(END VIDEO CLIP)
SOARES: Matthew Chance is following developments from Jerusalem.
And high praise, indeed, Matthew. Probably very well-received by Netanyahu and his cabinet, with elections just around the corner. What are they
looking to get out of this meeting?
MATTHEW CHANCE, CNN CHIEF GLOBAL AFFAIRS CORRESPONDENT: Well, that's certainly a part of it. I think that Benjamin Netanyahu, the Israeli prime
minister, wants to, you know, kind of underline, the close friendship that he has, you know, made sure that he's got with President Trump because it's
an electoral asset for him here in Israel domestically. Trump is very popular in Israel.
Netanyahu faces the possibility of an election within the next ten months, possibly significantly sooner than that. And having Trump at his side and
in his corner is seen as an electoral boon that could win him votes, potentially see him winning the election as well. And so that's one thing
he wants out of this meeting. In the sort of more medium term.
In the shorter term, though, I think there's an anxiety on the part of Benjamin Netanyahu about President Trump's desire to move as quickly as
possible into the second phase of his much vaunted peace plan for Gaza. The first phase has already been underway. The hostages have been released, all
but -- all but one.
And the second phase is a much more difficult phase, for a start, for Hamas, because it means Hamas would have to surrender its weapons and
surrender its power, but also difficult concessions for Benjamin Netanyahu as well, because in that second phase, Israel would be expected to withdraw
from territory inside Gaza. And also, basically give up control, hand over control of it to an international stabilization force, which is yet to be
agreed upon.
[15:10:07]
But U.S. officials have been working very hard behind the scenes to try and create the conditions for that to happen. Because Trump sees that second
phase and the peace plan in general as the centerpiece of his foreign policy. You know, to sort of create a lasting peace in the Middle East. And
he very much wants to get it advanced as much as possible. But as I say, there's a great deal of skepticism about those Israeli concessions from
Netanyahu. And, of course, from his right-wing coalition, which keeps him in power.
So, a bit of reluctance and foot dragging from the Israeli prime minister on that issue. There's also the outstanding issue of the last remaining
Israeli hostage at Ran Gvili, who has remains, have not yet been handed over by Hamas. Hamas says that it can't -- it can't find those remains, at
the moment. The parents of Gvili are in Florida right now with Benjamin Netanyahu. They've already met with Steve Witkoff and Jared Kushner and the
secretary of state, Marco Rubio. They're expecting to meet Trump as well.
And U.S. officials have already told them that finding Ran Gvili, his remains, is a priority for them. President Trump spoke about it in that
sort of shoulder-to-shoulder press briefing before the talks began. The parents of Ran Gvili don't want the second phase of Trump's peace plan to
go ahead until the remains of their son have been brought home. And, you know, this is a -- this is an obstacle to the advance into the second
phase, but it's a very convenient obstacle, both for Hamas and for the Israeli government, both of which are sort of reluctant for this second
phase to begin because of the painful concessions that each side would be expected to make.
And so, it's a potential, point of contention between Trump and Netanyahu. They've got other issues they want to talk about as well Iran, Lebanon,
Syria, to some extent. But it's that Gaza issue where we could see some friction emerge.
SOARES: Matthew Chance, for us in Jerusalem this hour -- thanks very much, Matthew. President Trump says the U.S. has significantly stepped up its
military campaign against drug trafficking in Venezuela.
In a radio interview on Friday, Mr. Trump claimed the U.S. had struck a drug production facility in Venezuela, but there have been no reports about
that from Venezuela and no confirmation of the attack from the Pentagon. Still, just a short time ago, the president repeated his claim. Just have a
listen.
(BEGIN VIDEO CLIP)
TRUMP: There was a major explosion and the dock area where they load the boats up with drugs, they load the boats up with drugs. So, we hit all the
boats and now we hit the area at sea, implementation area. That's where they implement. And that is no longer allowed.
(END VIDEO CLIP)
SOARES: Let's get more then on this. Senior national security reporter Zachary Cohen is looking into all of this.
So, Zach, what have you found? Because there's more questions than answers at this stage.
ZACHARY COHEN, CNN SENIOR NATIONAL SECURITY REPORTER: Yeah, details are very hard to come by still at this moment. But Donald Trump pressed on
those comments he made during the radio interview last week where he alluded to some sort of a U.S. military operation or U.S. kinetic operation
targeting a drug facility inside Venezuela itself, which, of course, would mark a significant escalation in this ongoing U.S. campaign around Latin
America that's really been resigned to striking those alleged drug boats in international waters, both in the Caribbean and in the eastern pacific
ocean.
But Donald Trump has been threatening to conduct strikes against targets on land inside Venezuela for several weeks now, as this pressure campaign
against Venezuelan leader Nicolas Maduro has been escalating. And Donald Trump, appearing to reveal for the first time in that interview on Friday
that the U.S. had carried out an operation against a target on land, which he said today was against a target -- a dock facility of sorts on the
shore, along the shore of Venezuela, where he claims that drug smugglers were essentially using it to load and offload drugs that would effectively
be transported to the U.S. and around the world.
But still, it's the silence around this boat from other U.S. officials and agencies, as well as from the Venezuelan side of the equation, is very --
it's interesting. And it's raised the question of who, whether it was the U.S. military or one of the U.S. intelligence agencies who carried out this
supposed strike.
Our Kevin Liptak asked President Trump during that press conference today directly, was it the U.S. military or was it the CIA or another agency that
has those capabilities? And Donald Trump wouldn't go there. He said he didn't want to say, but he knew exactly who was responsible for this
strike.
So, details will undoubtedly begin to emerge in the coming days as we'll continue to push on this.
[15:15:04]
But it's interesting that Donald Trump does seem to have taken that next step in escalating this campaign by conducting a strike against a target on
land inside Venezuela, rather than just international waters.
SOARES: Yeah, that'll be quite an escalation, if true.
Zach, I know you'll stay on top of this. Thank you very much indeed.
And coming up after this short break, British boxer Anthony Joshua is injured in a car crash in Nigeria. We'll have a live update just after
this.
(COMMERCIAL BREAK)
SOARES: Welcome back, everyone.
Nigerian police say British boxing star Anthony Joshua has been injured in a car crash that killed two other people. This social media video, have a
look at this, shows him being helped from the wreckage. You see him coming out the SUV.
It happened Monday morning on the busy Lagos-Ibadan Expressway. Joshua being told, suffered only minor injuries though as you can see his grin.
He's clearly in pain. The boxer was born in Watford in England to Nigerian parents and he has close family ties in Nigeria. Authorities have not
identified thus far the people killed in the incident.
We are lucky to have Larry Madowo here with us.
Larry, just talk us through, first of all, what we know about this accident. What happened, do we have details on that yet?
LARRY MADOWO, CNN CORRESPONDENT: We know a bit more based on what Nigerian authorities have said.
SOARES: Yeah.
MADOWO: He was driving on the Lagos-Ibadan Expressway.
SOARES: Was he driving? Was he a passenger?
MADOWO: He was not driving. He was in the back seat of the car. And we've seen the video of the wreckage and it's in a pretty bad shape. It's badly
mangled. Two people died in this accident, in this accident, the driver and a passenger. We're told they're foreigners. Though their identities have
not been made public.
And Anthony Joshua was in the back of the car. We saw him getting pulled out, and a crowd gathers. They identify him immediately, say, Anthony
Joshua, Anthony Joshua. And he's walked over to a police car where they sent him to the hospital for treatment.
And a lot of people paying attention to what happened here.
[15:20:00]
They say -- according to the Nigerian Federal Road Safety Corps, they were speeding and they were overtaking when they lost control and crashed into a
stationary truck that was parked on the side of the road.
SOARES: And I think that's the truck we were just looking at right when you were talking to bring it up.
MADOWO: Absolutely.
SOARES: So, three -- three people were inside that car. He was in the back seat. Assume three people. He was --
MADOWO: No, four people.
SOARES: Four people.
MADOWO: So, he and one other person survived this accident. Two people were killed in that accident.
SOARES: Right. So currently in hospital, do we know how they are doing, how Anthony is doing at this stage? What are we hearing from Nigerian
authorities on that?
MADOWO: Nigerian authorities say he was treated and he does not need any further treatment. He was responding well to treatment. He had minor
injuries and one other person who survived as well. We don't know how he's currently doing.
SOARES: Yeah.
MADOWO: And these two people who were sent to a morgue who were killed in it, they've not been identified at this stage, but a really tragic
accident.
SOARES: Absolutely.
MADOWO: And people point out, for instance, that there was no immediate ambulance available to take him to hospital. That is a police car, he said.
In the front of the -- of the car, when he's being driven off.
SOARES: I mean, it's amazing. You can still when he got out of the car, that he was right, he was clearly in pain. But the fact that he's walking.
MADOWO: He's in dazed, as you can see from that video, he's in pain. And also, it's like a whole its kind of a circus in that moment. And he's still
trying to figure out what happened to his friends in that moment.
SOARES: State of shock, no doubt. He has huge name, not just in U.K. but in Nigeria. Much loved. Give us some sort of the response of what we're
hearing from some of the some of the voices within Nigeria.
MADOWO: There's been a lot of shock at something happening to somebody as famous and iconic as Anthony Joshua. This is what they call in Nigeria --
Nigeria happening to you when some of the dysfunction in the country hits you and even your money cannot save you, cannot help you rise above it.
And he, because he knocked out Jake Paul just about a week ago, there's extra interest in what happens to him and the fact that he was driving on
this road. And gets involved in an accident that leads to the death of two people. There's been a lot of criticism, for instance, of the Nigerian
federal road service corps saying they were speeding and overtaking and then lost control. They're like, how did you figure that out so quickly?
This is just a few hours after the accident.
SOARES: But no footage has been provided, right? So far --
MADOWO: They have no footage. There was no speed cameras as far as we know on that road, so it's not clear how they knew that they were speeding or
they were overtaking dangerously. But they say overspeeding and careless overtaking are two of the major causes of fatalities on Nigerian roads.
SOARES: And we know that the president has also put out a statement about, he had a conversation right with his, with his mother, is that right?
MADOWO: Right. President Bola Tinubu posted a message of sympathy and support. He's again much beloved in Nigeria, much beloved across the
continent. And so, the messages of support are coming from all across the country.
SOARES: Yeah.
MADOWO: Well, people are wishing him well and praying for him.
SOARES: Yeah. Wish him well. Not just him, but the other person, who, of course, is in hospital, is recovering. And our thoughts and prayers, the
other two people who unfortunately have lost their lives in this accident.
I know you stay across it. Thank you, Larry. What a treat to have you here on the show. Come back more often.
Still to come. It is a place to be seen for foreign leaders. A look at the international players visiting Donald Trump in Florida, when we come back.
(COMMERCIAL BREAK)
[15:26:39]
SOARES: Welcome back, everyone.
A 17-acre resort for the rich has become the center of international diplomacy in recent days. Donald Trump invited the leaders of both Ukraine
and Israel to Mar-a-Lago for talks aimed at ending the violent conflicts that have plagued their two countries. Trump seems to be gambling that his
power of persuasion can score him a high. Couple of foreign policy wins that have seemed impossible. Of course, for others.
So, what we want to know is, can President Trump get a foreign policy breakthrough at Mar-a-Lago?
Joining me now is Kim Dozier, CNN's global affairs analyst.
Kim, great to have you back on the show.
Plenty for us to discuss. But let me start, first of all, with our top story this hour and some of these claims by the by the Kremlin that Ukraine
has so far vehemently denied that Ukrainian drone attack targeted one of President Putin's residence on Monday. Your -- your reaction? Do you buy
this or do you think this is -- this is part of the Putin playbook here.
KIM DOZIER, CNN GLOBAL AFFAIRS ANALYST: It is highly unlikely that the Ukrainians would do something so tone deaf. They have up until now
concentrated on hitting energy, military targets and have scrupulously stayed away from hitting civilian areas, whereas night after night, day
after day, the Russians have bombed in the center of Kyiv. Across the country, they've hit things like hospitals, train stations, as well as
energy depots and transmission stations.
And yet, we only hear from President Trump a criticism of this alleged strike by Ukraine on one of Putin's homes. It kind of -- it beggars belief.
And for the Ukrainians, they're immediately denying it and denouncing it and saying, we haven't done that. But it seems that Trump believes Putin
and has already criticized the Ukrainians, which is a bad place to be at this stage of the negotiations.
SOARES: Yeah. Look, and we heard from President Trump just before he walked into Mar-a-Lago next to Prime Minister Netanyahu. And his words were that
he was very angry about it, but no evidence. I think it's important to point out no evidence was ever provided by the Kremlin.
So, you know, let's talk about the timing of this, then, of this comment and this claim by the Kremlin. Kim, because very often, the timing is so
important, right? This comes off the back of a meeting between President Trump and President Zelensky.
Of course, the weekend where we both heard where we heard both optimism and uncertainty being projected. What did you make of the progress so far?
Because they said the plan was, what, just over 90 percent, almost 90 percent complete, but yet no breakthrough. Do you see progress here?
DOZIER: Well, you have Zelenskyy talking about making concessions in almost every major area. He is willing to hold a presidential election. He is
willing to give up parts of the Donbas, though, suggesting it becomes a demilitarized zone and requiring that Russian troops withdraw, as well as
Ukrainian troops withdrawing. And we see him basically coming to Mar-a-Lago to assure President Trump that he believes and will follow through with
these goals.
[15:30:04]
And yet, President Trump still says things like Putin wants peace when nobody in the western world or any analysts looking at the conflict like
me, can see any measure of proof of that. All you've had coming out of the Kremlin, out of from Putin's own commentary, is that, well, if the
Ukrainians won't give up everything that we insist on, well just take it by other means. We'll just go back to war and complete this military
operation.
Yet you don't see President Trump criticizing that. So to have this kind of an incident be reported right now, it puts paid to some of the hopes that,
you know, Zelenskyy is building momentum that he has Trump, at least on his closer to his side and closer to giving say the security guarantees that
would make it possible for President Zelenskyy to sign off on this and take a change in the borders to his own population to be voted on.
SOARES: Let's turn to the other conversation. Other meeting, of course, taking place in Mar-a-Lago. It's happening, and I believe it's still
happening right now between President Trump and Prime Minister Netanyahu.
I'm not sure whether you heard the little them talking before they walked in. President Trump said of Bibi. He's done a phenomenal job. And I'm
paraphrasing here, said Israel wouldn't exist without his leadership, saying he should be pardoned.
Which then kind of took me by surprise when I read Aaron David Miller's comment, who said Trump's comments before meeting with Netanyahu came, he
said, was a veritable reelect Bibi campaign commercial. Great prime minister, pardon for Netanyahu on its way. Demilitarization of Hamas a
priority, yes, we'll strike Iran if necessary. A smiling P.M. looked like a cat that swallowed a canary.
What are we likely to see come out of this?
SOARES: I mean, absolutely, the biggest headline there for me was that Trump says that Israels president has agreed to pardon Bibi. I don't think
we knew that. And these are charges that have been hanging over Bibi Netanyahu for years. If Isaac Herzog actually goes through with that, that
clears the way for Bibi to run again. The next legislative cycle has elections coming up this October. And it is essentially giving Bibi
everything he wants and needs to campaign for the next run.
But what we're not hearing and maybe President Trump is saving this for behind closed doors, is that Bibi has been slow rolling. The implementation
of phase two, and that blocks all of President Trump's plans for normalization between Israel and more of the Arab world and more kind of
ammunition in Trump's quiver for going out for the Nobel Peace Prize next year.
SOARES: Yeah, we haven't heard yet from Herzog, President Herzog, about this, of course, previously had denied any of this, but of course, we'll
keep an ear out. But let me ask you about that 20-point peace plan. And this is where things may get somewhat contentious, right? That was agreed
in October. How is Netanyahu? How is President Trump, when he put it to you, likely to walk this?
Because this, of course, he has staked his legacy on ending, right? And finding a deal. But this is something from Netanyahu. He doesn't want to
his and his own party from the right -- right wing extremism within the party don't want to see him concede. In fact, they believe he has conceded
too much when it comes to Gaza.
So how much pressure or leverage does President Trump apply here?
DOZIER: Well, President Trump does want to see phase two implemented, but he says that Hamas has to be disarmed. And Hamas just today reiterated that
it will not disarm until Israel withdraws from all of the Gaza Strip. Israel is not willing to do that until Hamas disarms. You've got a catch-22
situation.
You also have continuing violence. According to Gaza health officials, more than 400 Palestinians killed and according to the Israelis, three of their
soldiers have been killed. So, you have this continuing confrontation on the ground that could return back to war unless each side somehow is
convinced to take a step back, allow the international peacekeeping force that the U.N. has endorsed to get deployed, allow Palestinian technocrats
to start taking over governing functions. So, at this point, it's got to be Trump somehow pressuring Netanyahu behind closed doors to make some sort of
move towards phase two so that the very least the White House can blame Hamas for it all falling apart.
[15:35:02]
SOARES: Indeed. And on the pardon, just to clarify here, Kim, just for our viewers right around the world, of course, Herzog's -- President Herzog's
office has contradicted his issued a statement, contradicting Trump's account. I'm going to quote here saying, "There has been no conversation
between President Herzog and President Trump since the pardon request was submitted. Herzog spoke with the Trump representative who inquired about
the request and received an explanation of the process, and that any decision would follow standard procedures."
So, at least we'll keep an eye on that. We know where the President Herzog stands on this thus far.
Kim, as always, great to have you on the show. Kim Dozier, there.
Now it is the final moments of trade on Wall Street and stocks are lower. The Dow has been trading in the red through the entire session, as you can
see.
And this is our "Business Breakout".
It is a wild end to the year for silver prices. The precious metal has fallen almost 10 percent to round off a year where the price has more than
doubled over the weekend, Elon Musk warned about rising silver prices, saying it's needed in many industrial processes.
The head of Iran's central bank has been replaced amid fresh economic turmoil and protests. That is according to state TV. Iran's economy has
been struggling under sanctions with Iran. Riyal now at record low against the U.S. dollar.
Lululemon is in the middle of a boardroom power struggle launched by its former CEO. Chip Wilson says shareholders have lost faith in the board and
has nominated three new directors to join them. The struggling sportswear brand has already announced the departure of its current CEO, Calvin
McDonald.
2025 has been a year of market records, tariff turbulence and all kinds of corporate controversies.
Vanessa Yurkevich runs down the top ten business stories of the year for you.
(BEGIN VIDEOTAPE)
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT: Trump's trade war sends shockwaves across global markets. Two popular companies make
changes that court controversy, while another is facing its own challenges as its CEO goes DOGE. And the "Oracle of Omaha" takes his final bow. These
are the top business stories of 2025.
YURKEVICH (voice-over): Number ten, Warren Buffett retires. In May, a surprising announcement from America's most admired CEO.
WARREN BUFFETT, CEO, BERKSHIRE HATHAWAY: The time has arrived where Greg should become the chief executive officer.
YURKEVICH (voice-over): Buffett is stepping down after more than 60 years at the helm of Berkshire Hathaway. The famed investor is a towering figure
in American finance. Now 95, Buffett said no magic moment sparked the decision.
Number nine, a corporate facelift becomes an about face.
UNIDENTIFIED MALE: I don't like it. I wish that they would keep it the way that it is.
YURKEVICH (voice-over): A new logo was a no go for Cracker Barrel. It quickly backpedaled in August after online backlash, even from the Oval
Office, expressing outrage at the updated look. The company also canceled restaurant remodels, part of a turnaround plan for the struggling brand.
Number eight, Target tanks. It was a walk back of a different kind that put Target in the crosshairs after a rollback of so-called DEI initiatives in
January.
REV. JAMAL H. BRYANT, LEADING TARGET BOYCOTT OVER DEI POLICY BACKLASH: It would be less expensive and less cost if they would just do right by
humanity.
UNIDENTIFIED MALE: Allow them to see our power.
YURKEVICH (voice-over): Foot traffic fell nine percent year over year in the next month due to a consumer boycott, another dent to earnings amid
slumping sales and tariff pressure. The company still hasn't recovered, and CEO Brian Cornell is stepping down after 11 years on the job.
YURKEVICH: Number seven, Elon goes DOGE. It's been a tumultuous year for Tesla too. Elon Musk's company suffering slumping sales, stock price
volatility --
CROWD: Elon Musk has got to go!
YURKEVICH: Protests, and at times even vandalism.
CROWD: Deport Musk!
YURKEVICH (voice-over): Consumer backlash was aimed at Musk's work with President Donald Trump's administration as part of the Department of
Government Efficiency.
TRUMP: You can't be penalized for being a patriot. And he's a great patriot.
YURKEVICH: Musk stepped away from the government in May, but despite a rocky year, this fall --
UNIDENTIFIED MALE: With over 75 percent voting in favor --
YURKEVICH (voice-over): Tesla shareholders showed a vote of confidence in the CEO, awarding him the biggest pay package in corporate history.
ELON MUSK, CEO, TESLA: If there's something incredible that's done, that compensation should match, that something incredible was done.
YURKEVICH (voice-over): That puts Elon Musk in the express lane to potentially become the world's first trillionaire.
Number six, sticky inflation.
TRUMP: Prices are coming down very substantially on groceries and things.
[15:40:01]
YURKEVICH (voice-over): Despite what the president says, and despite being a major factor in last year's election, inflation is still above two
percent.
UNIDENTIFIED MALE: With tariffs and all the things that are happening, there's a rise in costs.
YURKEVICH (voice-over): Consumer sentiment is near record lows as Americans struggle with affordability.
YURKEVICH: Number five, the K-shaped economy or America's uneven recovery.
DAVID GOLDMAN, CNN BUSINESS EXECUTIVE EDITOR: If you're the top of the K, you're pretty wealthy and you're doing pretty good right now. Stocks are
near an all-time high, and that's padding your bottom line. But if you're making less than $100,000, you're not in that category. Inflation is really
taking a bite and you're making some very difficult financial decisions right now.
YURKEVICH: Higher earners are weathering higher prices by trading down in where they shop, like Walmart. That's propping up spending, while lower
income Americans are pulling back.
YURKEVICH (voice-over): Number four, a shaky job market.
MATT EGAN, CNN SENIOR BUSINESS REPORTER: You can see how bumpy the ride has gotten recently. In fact, we now know that out of three -- three out of the
last six months the economy has lost jobs.
YURKEVICH (voice-over): The job market is slowing. June, August and October saw the first losses since the pandemic.
DANIEL ZHAO, CHIEF ECONOMIST, GLASSDOOR: Uncertainty really is the theme for 2025. It's been a big driver for why the economy has slowed down over
the course of the year. And it is probably the blocker that is going to prevent hiring from picking up through the rest of the year.
YURKEVICH (voice-over): Trump blamed the worse than expected job market on the commissioner of the Bureau of Labor Statistics firing her in August.
TRUMP: We had no confidence. I mean, the numbers were ridiculous.
YURKEVICH: He accused her, without evidence, of manipulating the monthly jobs reports for, quote, "political purposes".
Number three, the Fed acts.
BRIANNA KEILAR, CNN ANCHOR: We begin with our major breaking economic news. The Federal Reserve announcing its decision on whether to make its first
interest rate cut this year. And it's happening after months of pressure from President Trump.
YURKEVICH (voice-over): Despite months of threats and taunts from President Trump, the Federal Reserve made the first of three rate cuts in September.
The Fed held rates steady for nine straight months to assess how President Trump's tariff policy would impact jobs and inflation.
EGAN: And it does lower Fed rates to the lowest level in three years.
YURKEVICH: Interest rates affect what Americans pay for mortgages and other loans.
Number two, Wall Street's roller coaster. Over a single year, the major U.S. indices lost nearly 20 percent in market value in the spring, then
gained it back a few months later.
KASIE HUNT, CNN ANCHOR: Stocks in a freefall on President Trump's decision to further escalate his trade war.
JAKE TAPPER, CNN ANCHOR: Wall Street closed last hour with the Dow above 48,000 for the very first time.
YURKEVICH (voice-over): The market madness driven by the president's on and off tariff policy.
UNIDENTIFIED MALE: A lot of much bigger things are going on, namely A.I.
YURKEVICH: A.I. is fueling a technology boom and a boom on trading floors led by Nvidia, whose market cap is approaching $5 trillion. But A.I.'s
meteoric rise is fueling concerns of a bubble burst on the horizon.
And number one, the launch of a historic trade war.
TRUMP: This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence.
YURKEVICH (voice-over): With a signature on April 2nd, the United States entered a new era of trade policy, announcing steep tariffs on allies and
enemies alike.
JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: The president declared a national economic emergency, and that allows him to really
launch what many see as an escalating trade war. This is an historic move.
YURKEVICH: That historic move moving markets, sending countries scrambling for new trade deals with the U.S. and stoking concerns for business owners
and customers.
NATALIE HOLST, FOUNDER AND DESIGNER, HOLST AND LEE: As a business owner, you always have uncertainty. But these are -- these are things we didn't
plan for.
YURKEVICH: But the U.S. Supreme Court is getting ready to rule on whether Trump's tariffs are legal, a precedent-setting ruling.
ELIE HONIG, CNN SENIOR LEGAL ANALYST: The president clearly thinks that the stakes here are massive. He put up on Truth Social yesterday a post in
which he said that this case presents "literally, life or death for country."
YURKEVICH: Vanessa Yurkevich, CNN, NEW York.
(END VIDEOTAPE)
(COMMERCIAL BREAK)
[15:47:28]
SOARES: Millions of people across the U.S. are under winter weather alerts this evening. Here's what it looks like in the state of Michigan. Many
homes and towns completely covered in snow, in addition to blizzard-like conditions in some states, others are dealing with ICE, thunderstorms, and
tornadoes.
This is adding to the travel challenge for millions driving and flying home for the holidays.
Our meteorologist Chris Warren joins us now from the CNN Weather Center.
And Chris, I'm hearing from a friend who took her more than 10 hours in terms of delays just coming to the U.K.
CHRIS WARREN, CNN METEOROLOGIST: Yeah, and just to imagine, you know, flights are difficult and driving, Isa, is impossible at times when you
just take a look at this right here. This is from yesterday in Iowa, right in the middle of the U.S., where there were hours and hours worth of heavy
snow and very strong winds leading to those whiteout conditions. This is what we're seeing right now.
When you look at this map here over the Great Lakes, parts of Michigan, even Wisconsin, and now downwind on the east side of the great lakes is
where some of the heavier snowfall and higher snowfall totals are still expected. So that video, were just looking at more conditions like that are
possible, especially in areas where you have and you see the darker purple colors here near Erie and Cleveland.
And this is the kind of weather where you can be driving along. It's just cloudy. Then, all of a sudden, like hitting a curtain, a curtain of white
snow just coming down, extremely dangerous snow squall to do that for you as well. And there are some snow squall warnings right now between
Cincinnati and Erie with some of these winds.
Just even if there's not a lot of snow falling out of the sky will blow that snow around. In Buffalo, we did see a wind gusting to 127 kilometers
per hour. The strongest wind gusts there in 45 years.
This here in pink is where there is expected to be more impactful weather. Winter storm warnings posted here with the potential again for more
whiteout conditions and even some ice. Not as much ice as we saw earlier. And we talk about ice freezing rain. That's when rain still water in its
liquid form hits something and freezes on contact.
And if that something is a power line or a tree, that can lead to power outages. And still, in some areas, Isa, we could see snow up to about a
foot or so. So we're looking at once again very cold air also moving in windy conditions east. It can lead to some travel problems as well.
[15:50:03]
SOARES: Stay warm, stay safe.
Chris, appreciate it.
We're going to take a short break. We'll be back on the other side.
(COMMERCIAL BREAK)
SOARES: Let me take you to Florida now where President Trump and Benjamin Netanyahu is speaking.
TRUMP: And what we're looking at and where we want to be, where we want to go. And so, I just want to thank you for spending time. I know you're going
to be over here for a couple of days, and maybe we'll be surprising us on New Year's Eve. That'll be fine.
BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER: Thank you.
TRUMP: And it's wonderful seeing you and Sarah and your whole group. Very talented group. We've done very good work together and it will continue.
So, thank you very much, Bibi.
NETANYAHU: Thank you.
TRUMP: Thank you very much.
NETANYAHU: Mr. President, thank you.
I have to say that -- I have to say that in addition to what I said, that we've never had a friend even close, a friend as President Trump in the
White House, I think he's been extraordinary in his friendship and his support for Israel, his principled positions, his willingness to just cut
through and get to the essence of things. And I don't say that as a compliment. I just mean it.
People have heard me say that behind your back, Mr. President. Many times, but I want to say something else. I think we have a partnership, if I can
quote you, second to none. I think it's allowed us to do enormous things. You know, people said there was a different conception at one time, which
means that America can advance its interests in the Middle East if it opens a lot of daylight between it and Israel.
And President Trump has done the exact opposite. He's achieved remarkable things in the Middle East because we've worked together. We talk about our
ideas. Sometimes we have different ideas, but we work it out and most of the time, we see eye to eye. But it's been a remarkable experience, and
this was a very, very productive meeting. And may I say, a very good lunch.
Thank you. Thank you for your friendship.
TRUMP: Thank you very much.
NETANYAHU: And thank you for your support. It's been from the heart.
TRUMP: Thank you.
You know, as I said outside, he's been a wartime prime minister. And we were, I guess I could say I was a wartime president in more places than
just Israel, if you think about it. But Israel was a big factor, and we're with you, and we'll continue to be with you. And a lot of good things are
happening in the Middle East. We have peace in the Middle East, and we're going to try and keep it that way. I think we will be very successful in
keeping it that way. And you've been a great friend and I've been a great friend to you and to Israel, and it's been my honor. And the award that I
was given was really surprising and very much appreciated.
NETANYAHU: Well, President Trump has broken so many conventions to the surprise of people. And then they figure out, oh, well, maybe, you know, he
was right after all.
So, we decided to break a convention to or create a new one. And that is to award the Israel Prize, which in almost our 80 years, we've never awarded
it to a non-Israeli. And were going to award it this year to President Trump. This was announced formally over lunch by our minister of education,
who's responsible for the Israel Prize. It's going to be awarded to President Donald J. Trump for his tremendous contributions to Israel and
the Jewish people.
I think there's -- it's such a fitting thing. And it would honor us, obviously, Mr. President, if you could visit Israel in that occasion and
our Independence Day. But I have to say that this reflects the overwhelming sentiment of Israelis across the spectrum. They appreciate what you've done
to help Israel and to help our common battle against the terrorists and those who would destroy our civilization.
So, again, that's an expression of thanks and appreciation.
TURMP: Thank you, Bibi, very much. That really is a great honor.
Any questions please? We'll go pretty quickly because pretty much we agree on most of the things. And you would know what most of those things are.
Please go ahead.
REPORTER: Thank you, Mr. President.
I'd like to know if you and the prime minister talked about having Israel pull back its troops before Hamas fully disarms. I know that's been an
issue. Did you push for that today?
TRUMP: Well, we talked about Hamas and we talked about disarmament, and they're going to be given a very short period of time to disarm. And we'll
see how that works out. Steve Witkoff and Jared Kushner will be in charge of that from our side.
But if they don't disarm as they agreed to do, they agreed to it, then they'll be hell to pay for them. And we don't want that. We're not looking
for that. But they have to disarm within a fairly short period of time.
REPORTER: Is Israel withdrawing its forces?
TRUMP: Well, that's a separate subject. We'll -- we'll talk about that.
REPORTER: Mr. President?
TRUMP: Yes.
REPORTER: Mr. President, did you have a message for the prime minister about the West Bank? And are you at all concerned that settler violence,
Israeli settler violence, could be undermining the peace plan?
TRUMP: Well, we have had a discussion, a big discussion for a long time on the West Bank. And I wouldn't say we agree on the West Bank 100 percent,
but we -- we'll come to a conclusion on the West Bank.
REPORTER: If I could ask, what is the disagreement?
TRUMP: Well, I don't want to do that. It'll be announced at an appropriate time, but he will do the right thing. I know that I know him very well. He
will do the right thing.
Yes.
REPORTER: And there is a growing fear of a confrontation between Israel and Turkey. How are you going to ease this tension, given the fact that
Erdogan, President Erdogan, calls Mr. Netanyahu, Hitler and compares Israel to the Nazis?
TRUMP: Well, I know President Erdogan very well. And as you all know, he's a very good friend of mine. And I believe that -- and I do respect him. And
Bibi respects him. And they're not going to have a problem. They're not going to have a problem. I know him very well, and you've seen me do things
with President Erdogan and Turkey that nobody else could have done.
We're not going to have a problem. He's done a fantastic job. I'm with him all the way. I'm with Bibi all the way. Nothing's going to happen.
Yes?
REPORTER: Mr. President, are you concerned that Israel is not moving quickly enough to phase two of the peace plan?
TRUMP: Well, I'm not concerned about anything that Israel is doing. I'm concerned about what other people are doing or maybe aren't doing, but I'm
not concerned. They've lived up to the plan.
They're strong. They're solid, and sometimes they don't understand when somebody violates something that you want to give them a second chance,
we'll give them a couple of second chances. But no, Israel has lived up to the plan 100 percent.
Don't forget we made the plan possible by taking out Iran. And speaking of Iran, I hope they're not trying to build up again because if they are, were
going to have no choice but very quickly to eradicate that buildup.
So I hope Iran is not trying to build up, as I've been reading, that they're building up weapons and other things, and if they are, they're not
-- they're not using the sites that we obliterated, but they're using possibly different sites. We know exactly where they're going, what they're
doing, and I hope they're not doing it because we don't want to waste the fuel on a B-2 to 37-hour trip both ways. I don't want to waste a lot of
fuel. Okay?
REPORTER: President Trump, your last remarks regarding the request of Prime Minister Netanyahu. Herzog office told us that you have not talked, after
the official request of Prime Minister Netanyahu pardon. Can you clarify to us? Did you talk about it?
TRUMP: What request are you talking about?
REPORTER: With President Herzog, the Israeli President Herzog. Did you talk with him directly?
TRUMP: President Erdogan?
REPORTER: Herzog, Herzog, the Israeli president.
TRUMP: Are you talking about pardon?
REPORTER: Yeah.
TRUMP: Oh, well, you got to say that. No, I think he's going to be in great shape. He's a wartime prime minister at the highest level. He's achieved
tremendous success.
And I'll say it, you know, if you had eight out of ten prime ministers in his position right now or before, right now, maybe you wouldn't have Israel
any longer. Israel would not exist. I'd say two of them would, and eight of them wouldn't. Those are not good odds. You needed a very special man to
really carry through and really help Israel through this horrible jam.
You know, these are major factions. And it started with our negotiation with Iran. I think it probably started with Soleimani. That was really
where you mentioned that today, which started with Soleimani -- bad guy doing bad things, hurting a lot of people, killing American soldiers and
other soldiers.
But it started right there, would probably be the starting point. And then from that point forward, but you would -- you have a wartime Prime Minister
at the highest level. There could be other wartime prime ministers, but they'd lose.
