Bloomberg Daybreak: US Edition NJ Transit Strike Over; Scheffler Wins the PGA Championship
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May 19, 2025 New Jersey Transit’s labor dispute comes to a close, bringing relief to thousands of frustrated commuters. Scottie Scheffler faced intense pressure at the PGA Championship but ultimately clinched the title, despite a thrilling challenge from Jon Rahm. Meanwhile, concerns grow over the U.S. credit rating downgrade, as Treasury yields creep above 5%. Other segments touch on global developments, including humanitarian challenges in Gaza and advancements by tech giant NVIDIA, all while keeping listeners informed on local sports highlights.
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NJ Transit Strike Causes
- The New Jersey Transit strike was rooted in wage negotiations seeking parity with other major U.S. railroads engineers.
- The strike was the first for NJ Transit in over 40 years, affecting 350,000 daily riders.
Scheffler's Major Win Journey
- Scotty Scheffler won his third major by overcoming a lost lead in the PGA Championship.
- He became one of three players with 15 PGA wins and three majors before 29, joining Nicklaus and Woods.
U.S. Credit Downgrade Insight
- Moody's downgraded the U.S. credit rating due to unresolved debt and deficit issues spanning administrations.
- Treasury Secretary Scott Bessent views Moody's as a lagging indicator on credit ratings.