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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin this morning in Minneapolis.

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Speaker 4: That's where an Immigration and Customs enforcement officer fatally shot

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Speaker 4: a woman during a confrontation. Bloomberg's John Tucker joins us

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Speaker 4: with the latest John and Nathan.

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Speaker 5: The shooting, caught on video and shared widely on social media,

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Speaker 5: happened during what federal officials describe as a targeted operation.

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Speaker 5: It shows a Honda pilot blocking part of the road

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Speaker 5: as two federal agents approached. As one of them tried

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Speaker 5: to open the door, the suv backed up slightly. A

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Speaker 5: third agent then appeared in front of the vehicle and

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Speaker 5: fired at the driver as it began to turn and

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Speaker 5: move forward. Homeland Security Secretary Christy Nome calls it self

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Speaker 5: defense and domestic terrorism.

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Speaker 6: The ice officer, fearing for his life and the other

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Speaker 6: officers around him and the safety of the public, fired

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Speaker 6: defensive shots. He used his training to save his own

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Speaker 6: life and that of his colleagues.

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Speaker 5: The claim of self defense drew this response from Minneapolis

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Speaker 5: Mayor Jacob Frye. That is get out of Minneapolis. We

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Speaker 5: do not want you here. The driver was shot in

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Speaker 5: the head. She's identified as thirty seven year old Rene Good.

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Speaker 5: Minnesota Governor Timbowalls places the blame squarely at the feet

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Speaker 5: of the Trump administration.

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Speaker 7: It's governing by reality TV, and today that recklessness costs

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Speaker 7: someone their life.

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Speaker 5: President Trump described the video as a horrible thing to watch.

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Speaker 5: He accused the woman driving the carb resisting and claimed

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Speaker 5: she violently, willfully, and viciously ran over the ice officer.

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Speaker 5: Within hours, the Minneapolis killing ignited protests as far away

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Speaker 5: as New York City. In New York, coome John Tucker

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Speaker 5: Bloomberg Radio.

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Speaker 2: All right, John, thank you. We want to get the

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Speaker 2: latest now on Venezuela oil. Traders and refiners are rushing

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Speaker 2: to position after President Trump said the US will take

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Speaker 2: control of up to fifty million barrels of Venezuelan oil.

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Speaker 2: In an interview with The New York Times, the President

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Speaker 2: said only time will tell how long the US will

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Speaker 2: maintain oversight of the country, but when pressed, he said

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Speaker 2: it could be much longer than a year. Bloomberg's runs

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Speaker 2: Learn Mathison rapports the US may be aiming to control

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Speaker 2: Venezuelan oil exports indefinitely.

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Speaker 8: They would hold the proceeds in treasury accounts, which means

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Speaker 8: that creditors can't really get their hands on that money

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Speaker 8: at least for some time. The impact on the market

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Speaker 8: remains to be seen. I mean, Venezuelan oil is not

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Speaker 8: a key one in the market at the moment, a

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Speaker 8: market that's already very well supplied. I mean Donald Trump

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Speaker 8: is talking about up to fifteen million barrels of oil

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Speaker 8: being available. That seems quite optimistic, given that Venezuela is

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Speaker 8: only really pumping at the most one million barrels a.

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Speaker 2: Day and Bloomberg's range Mathison rapports President Trail plans to

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Speaker 2: meet with US oil executives at the White House in

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Speaker 2: the coming days, and.

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Speaker 4: Staying with foreign policy, Karen Bloomberg News has learned US

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Speaker 4: officials are rushing to come up with options for business

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Speaker 4: deals and other ways to step up links to Greenland.

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Speaker 4: President Trump has long said he wants the territory for

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Speaker 4: security reasons. Secretary of State Marco Rubio says he plans

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Speaker 4: to meet with Danish officials next week.

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Speaker 7: That's always been the president's intent from the very beginning.

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Speaker 7: He said it very early on. I mean, this is

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Speaker 7: not new. He talked about it in his first term.

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Speaker 4: Secretary of State Marko Rubio spoke with reporters on Capitol Hill.

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Speaker 4: European leaders have said a US takeover of Greenland would

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Speaker 4: be a major violation of NATO.

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Speaker 2: NATHAN When it comes to military strategy, President Trump is

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Speaker 2: calling for a huge boost in defense spending from one

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Speaker 2: trillion to one and a half trillion dollars a year.

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Speaker 2: At the same time, he's demanding that major defense contractors

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Speaker 2: end stock buybacks and dividends and cap executive pay at

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Speaker 2: five million dollars a year until they spend more on

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Speaker 2: weapons development. The President made the demands in a series

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Speaker 2: of social media posts and later followed them up with

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Speaker 2: an executive order. Palmer Lucky is the founder of defense

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Speaker 2: technology company Anderrell and says he does not have a

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Speaker 2: problem with it.

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Speaker 9: If I am getting paid by taxpayers, they should have

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Speaker 9: ability to elect people, elect representatives, elect who will then

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Speaker 9: nominate people who can hold me to account in any

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Speaker 9: way they wish. If they want to say that I

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Speaker 9: only pay myself five million dollars until I'm caught up

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Speaker 9: with my schedules, they should be allowed to do that.

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Speaker 2: And Palmer Lucky tells Bloomberg he only pays himself one

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Speaker 2: hundred thousand dollars a year now. Shares and legacy defense

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Speaker 2: contractors took a hit after the president's moves, but this

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Speaker 2: morning they're bouncing back. In Northrop Grumman it's up seven

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Speaker 2: and a half percent this morning, Lockheed Martin it's up

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Speaker 2: seven and a half percent as well, and RTX is

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Speaker 2: up nearly five percent, Karen.

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Speaker 4: The White House is reportedly drafting an executive order on affordability.

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Speaker 4: That's according to a report from Politico. After President Trump

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Speaker 4: posted on social media he will immediately take action to

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Speaker 4: ban large institutional investors from buying more single family homes

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Speaker 4: than he'll ask Congress to codify that. Bloomberg Intelligence real

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Speaker 4: estate analyst Jeffrey Langbam explains how this impacts Wall Street.

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Speaker 10: If at the end of the day, these companies that

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Speaker 10: largely grow by buying new rental health homes, if they're

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Speaker 10: prohibited from doing that, that takes away a big part

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Speaker 10: of their growth engine. And then you know, it raises

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Speaker 10: the question of whether there's a viable business model there.

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Speaker 10: If the government is anti institutional ownership of rental.

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Speaker 4: Homes Bloomberg Intelligence channelst Jeffrey Langbaum, the President's post sent

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Speaker 4: the S and P fifteen hundred home building index down

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Speaker 4: two point six percent.

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Speaker 2: Well Nathan on Capitol Hill swing distinct Republicans divide party

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Speaker 2: leaders to join Democrats in advancing legislation to revive expired

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Speaker 2: Obamacare subsidies for three years. The procedural votees up floor

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Speaker 2: consideration of a clean three year subsidy extension later this week,

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Speaker 2: which is expected to achieve similar levels of support. House

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Speaker 2: passage would increase pressure on the White House and Senate

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Speaker 2: lawmakers to reach a bipartisan deal to revive the enhanced

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Speaker 2: tax credits that lowered out of pocket premiums.

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Speaker 4: Turin the markets, Karen futures are lower once again after

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Speaker 4: mostly down day on Wall Street, following a strong start

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Speaker 4: to the equity markets in twenty twenty six. Cameron Dawson,

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Speaker 4: as chief investment officer at New Edgewalth.

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Speaker 11: We think that we'll have volatility along the way, but

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Speaker 11: that there's still room for the markets to press higher.

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Speaker 11: Key point is that in the fourth year of the

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Speaker 11: bull market, we've had twenty three bull markets that have

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Speaker 11: been three years over the last fifty years. Fifty sixty

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Speaker 11: years or so, and the conclusion is about fifty percent

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Speaker 11: of the time they're able to get to that fourth

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Speaker 11: year of positive returns.

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Speaker 1: So we have a fifty to fifty.

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Speaker 11: Chance of being able to deliver positive returns in twenty

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Speaker 11: twenty six.

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Speaker 4: New Edgewelt's Cameron Dawson says the next big event for

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Speaker 4: the market is tomorrow when the Labor Department releases the

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Speaker 4: December jobs report and.

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Speaker 2: Company News Nathan and Vidia shares getting a bit of

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Speaker 2: a boost in early trading. Bloomberg News has learned Shuina

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Speaker 2: plans to approve some imports of in Vidia's H two

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Speaker 2: hundred ships as soon as this quarter, and we get

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Speaker 2: more with Bloomberg's Valery Titel.

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Speaker 12: Definitely good news for Nvidia to return to the Chinese

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Speaker 12: market is it would be a big turnaround of events.

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Speaker 12: China is the world's largest market for semiconductors. Nvidia used

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Speaker 12: to have a market share of ninety five percent, but

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Speaker 12: now because of these export restrictions, it has a market

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Speaker 12: share that's closer to zero these days.

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Speaker 2: Bloomer's Valery Titel says Chinese officials are preparing to allow

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Speaker 2: local companies to buy ships from Nvidia for select commercial

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Speaker 2: use and shares of Nvidia. They're up about a third

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Speaker 2: of up percent this morning. Time now for look at

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Speaker 2: some of the other stories making news in New York

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Speaker 2: and around the world, and for that we're joined by

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Speaker 2: Bloomberg's and Michael Barr.

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Speaker 3: Michael, good morning, Good morning.

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Speaker 13: Karen. Nick Reiner, who is charged with killing his parents,

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Speaker 13: Rob and Michelle Reiner, appeared in the Los Angeles courtroom

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Speaker 13: to be arraigned. However, Reiner's high profile attorney, Alan Jackson,

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Speaker 13: was granted a request to be removed from the case.

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Speaker 13: Jackson offered no explanation as to why, but says he

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Speaker 13: withdrew from the case due to circumstances beyond Nick Reiner's control.

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Speaker 13: Jackson says, though he remains committed to Nick's best interest and.

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Speaker 3: You can take this to the bank. Is it pursuant

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Speaker 3: to the laws of this state.

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Speaker 2: Pursuant to the law in California, Nick Reiner is not

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Speaker 2: guilty of murder? Print that.

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Speaker 13: Print that Reiner has now been appointed a public defender.

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Speaker 13: Police in Utah say two people were killed and several

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Speaker 13: injured in a shooting outside a church in Salt Lake City.

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Speaker 13: People were attending a funeral inside at the time. The

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Speaker 13: shooting took place in the parking lot of a meetinghouse

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Speaker 13: of the Church of Jesus Christ of Latter day Saints.

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Speaker 13: Salt Lake City Mayor Aaron Mendenhall.

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Speaker 3: This should never have happened.

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Speaker 2: This should never have happened outside a police of worship.

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Speaker 3: It should not have happened at.

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Speaker 11: A celebration of life that was occurring inside of the church.

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Speaker 13: Mayor menden Hall says they are still searching for the shooter.

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Speaker 13: NASA is considering ending a mission on board the International

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Speaker 13: Space Station early after an astronaut suffered a medic emergency.

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Speaker 13: The space agency said it could curtail the Crew eleven

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Speaker 13: mission in a rare move which involve astronauts from the US, Japan,

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Speaker 13: and Russia. NASA postponed today's spacewalk in light of the

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Speaker 13: emerging health concern. Global News twenty four hours a day

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Speaker 13: and whenever you want it with the Bloomberg News.

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Speaker 3: Now Michael Bayn this is Bloomberg Karen.

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Speaker 2: Thanks Michael all the time. Now for our Bloomberg Sports updating.

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Speaker 2: For that we bring in John Stashauers.

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Speaker 14: Carrying a trade in the NBA. Trey Young was the

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Speaker 14: top player for the Atlanta Hawks for seven and a

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Speaker 14: half seasons. The Hawks have traded Young to the Washington

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Speaker 14: Wizards for CJ McCullum and Corey crispurn Our baseball trade,

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Speaker 14: the Marlins are traded starting pitcher Edward Cabrera to the

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Speaker 14: Cubs for three prospects. College football playoffs semi finals tonight

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Speaker 14: in Phoenix. It's Miami against ole Miss. The Hurricanes coming

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Speaker 14: off the upset of defending champion Ohio State. Ole Miss

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Speaker 14: has two playoff wins since it's coach Lane Kiffin left

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Speaker 14: for LSU. That's to Bloomberg Sports Update.

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Speaker 3: Stay with us.

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Speaker 2: More from Bloomberg Daybreak coming up after.

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Speaker 1: This Coast to coast on Bloomberg Radio, nationwide on Sirius Exam,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 3: Good morning, I'm Nathan Hager.

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Speaker 4: The US strategy for Venezuela may be starting to take

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Speaker 4: shape now that President Trump has said the US will

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Speaker 4: sell up to fifty million barrels of sanctioned Venezuelan crude.

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Speaker 3: Here's Secretary of State Marco Rubio we.

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Speaker 7: Have tremendous control and leverage over what those intro authorities

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Speaker 7: are doing and are able to do. But obviously this

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Speaker 7: will be a process of transition. In the end, it

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Speaker 7: will be up to the Venezuelan people to transform their country.

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Speaker 4: That was Secretary of State Marco Rubio, speaking after a

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Speaker 4: briefing with lawmakers on Capitol Hill this morning. We're joined

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Speaker 4: by Bloomberg DC Breaking News editor Alexander Pearson. Of course,

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Speaker 4: alex we haven't just heard from Secretary of State Rubio.

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Speaker 4: President Trump gave a pretty wide ranging interview to The

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Speaker 4: New York Times, saying own time will tell how long

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Speaker 4: the US will maintain control of Venezuela.

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Speaker 3: That points to a pretty big challenge ahead, doesn't it.

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Speaker 3: Good morning, Yes, good morning, Nathan. Yeah, that's right.

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Speaker 15: So we've had not just from Trump but also from

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Speaker 15: his energy sectory that this could be a very very

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Speaker 15: long operation involving Venezuela and specifically the selling of Venezuelan oil.

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Speaker 15: And that really has to do with the fact that

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Speaker 15: it's going to take a long time to actually get

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Speaker 15: a lot of the productive capacity in Venezuela back online.

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Speaker 15: Companies if they go in there, they're going to have

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Speaker 15: to invest a lot of money. It's going to take

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Speaker 15: a lot of time, and so they very much seem

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Speaker 15: to be signaling that they're aware of this and that

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Speaker 15: you know, in the words of actually the energy sectary

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Speaker 15: Chris Right, it could even be indefinite in terms of

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Speaker 15: how long they are involved in the selling of Venezuela's

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Speaker 15: exports on oil.

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Speaker 4: So this raises a lot of questions whether the interim

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Speaker 4: Venezuelan government is really in cooperation with the US and

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Speaker 4: whether US oil companies are willing to go in at

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Speaker 4: this point when the situation on the ground in Venezuela

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Speaker 4: may be pretty uncertain.

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Speaker 15: Yeah, exactly. That's also a big question for these companies,

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Speaker 15: and Venezuela has not been a great prospect in terms

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Speaker 15: of investments for many decades. And even now with the

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Speaker 15: removal of President Maduro, the you know, his allies are

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Speaker 15: still in office. The country is still in a very

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Speaker 15: uncertain political environment. It's not clear where it's going to

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Speaker 15: go when the next elections is going to happen. And

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Speaker 15: you know, for the US oil majors who potentially want

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Speaker 15: to go in, and certainly Trump wants them to go in,

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Speaker 15: they will want reassurances from the US that you know,

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Speaker 15: an investment that's going to take place over ten, you

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Speaker 15: know twenty to thirty years is going to be protected,

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Speaker 15: is going to be safe, and that certainly seems to

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Speaker 15: be will probably be on the agenda tomorrow when President

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Speaker 15: Trump meets with oil executives at the White House.

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Speaker 4: And while the situation in Venezuela continue used to unfold,

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Speaker 4: We've gotten some pretty interesting comments from President Trump when

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Speaker 4: it comes to his vision for the military, calling for

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Speaker 4: a massive increase in defense spending, well at the same

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Speaker 4: time warning major defense contractors not to do stock buybacks

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Speaker 4: and limit executive pay.

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Speaker 3: How to square all that, Alex.

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Speaker 15: Yeah, it's been interesting in terms of his announcements. Certainly

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Speaker 15: on the stock market, there's been some whiplash. So initially

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Speaker 15: Trump was very critical of the major US defense contractors,

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Speaker 15: saying they spent too much on dividends, buybacks, on executive

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Speaker 15: pay and was calling for essentially bands and caps on

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Speaker 15: those and that sent stock prices down. And then he

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Speaker 15: followed up shortly thereafter saying he wanted a massive expansion

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Speaker 15: on defense spending, so increasing it from just on the

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Speaker 15: trillion right now to one point five trillion dollars in

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Speaker 15: twenty twenty seven. That's obviously a huge increase, a huge

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Speaker 15: increase on what is already a very high amount of

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Speaker 15: spending on defense. The US spends far more than any

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Speaker 15: other country on defense, and that then caused you all

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Speaker 15: these stock prices to increase because obviously these companies are

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Speaker 15: set to, you know, get a large windfall from that.

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Speaker 15: But it is very much mixed messaging, and certainly investors

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Speaker 15: and these companies will be looking at what the next

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Speaker 15: houst will be, particularly on his criticisms and on this

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Speaker 15: executive order that is attempting to curtail some of their

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Speaker 15: decision making with regards to their shareholders.

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