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Speaker 1: News when you wanted with Bloomberg News. Now I'm Doug Krisner.

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Speaker 1: We begin in South Korea where President yunsuk yol is

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Speaker 1: in custody after being arrested in a pre dawn operation.

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Speaker 1: The impeach leader was apprehended for questioning over his short

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Speaker 1: lived martial law declaration in early December. Now Yun can

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Speaker 1: be held for forty eight hours. The Corruption Investigation Office

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Speaker 1: for High Ranking Officials had been looking to bring Yuni

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Speaker 1: into custody after he repeatedly defied summons to appear for questioning.

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Speaker 1: Here is Bloomberg's HISUL.

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Speaker 2: A few hours into the operations, some of the investigators

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Speaker 2: managed to get to the third set of defense lines set.

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Speaker 1: By his security team, and while this was going on,

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Speaker 1: he's main lawyer signal that some negotiations were underway between

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Speaker 1: Yun and the CIO that is BLOOMBERG'SHISUL. In a statement,

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Speaker 1: Yun said he agreed to appear to avoid any unsavory bloodshed,

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Speaker 1: and he said his appearance did not mean he accepted

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Speaker 1: the legitimacy of the investigation. By the way, this arrest

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Speaker 1: makes Yun the first incumbent president in South Korean history

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Speaker 1: to be taken into custody Stateside. The Securities and Exchange

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Speaker 1: Commission has sued Elon Musk. The SEC filed a lawsuit

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Speaker 1: in federal court in Washington over alleged security violation. Here

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Speaker 1: is Bloomberg's Meghan Howard.

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Speaker 2: The agency is alleging that Musk waited to disclose his

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Speaker 2: acquisition of Twitter shares in order to build his position

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Speaker 2: at lower prices. They are also saying that Musk deliberately

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Speaker 2: ignored a deadline to publicly disclose that he acquired more

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Speaker 2: than a five percent stake in the company early in

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Speaker 2: twenty twenty two, and this is actually something that he

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Speaker 2: had previewed in a letter last month. So the agency

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Speaker 2: has officially filed that lawsuit in federal court as of today, that.

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Speaker 1: Is Bloomberg's Meghan Howard there now. The SEC is seeking

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Speaker 1: a civil penalty and for Musk to return profits he

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Speaker 1: made from his stock purchases. Musk is also facing investor

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Speaker 1: litigation accusing him of hiding his acquisition of Twitter shares.

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Speaker 1: President elect Trump's choice for Defense Secretary, Pete Hegseth, spent

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Speaker 1: the better part of the day on Capitol Hill fielding

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Speaker 1: questions that were sometimes heated and contentious. Here's Bloomberg's Amy

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Speaker 1: Morris with more from Washington.

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Speaker 3: New York Democratic Senator Kirsten Gillibrand questioned hag Seth's position

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Speaker 3: on women in the military.

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Speaker 4: You will have to change how you see women to

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Speaker 4: do this job well, and I don't know if you

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Speaker 4: are capable of that.

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Speaker 3: And Virginia Democratic Senator Tim Caine questioned hag Seth's character.

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Speaker 2: You had just fathered a child two months before by

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Speaker 2: a woman that was not your wife.

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Speaker 3: Senator Armed Services Committee Chair Republican Roger Wicker of Mississippi

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Speaker 3: showed his support for the nominee.

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Speaker 4: I'm confident that mister Hegseth, supported by a team of

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Speaker 4: experienced top officials, will get the job done.

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Speaker 3: Hag Seth himself laid out his objective for the Pentagon

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Speaker 3: if he's confirmed. When President Trump chose me for this position,

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Speaker 3: the primary charge he gave me was to bring the

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Speaker 3: warrior culture back to the Department of Defense. Hag Seth

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Speaker 3: does not need Democrats to win confirmation, but he can't

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Speaker 3: lose more than three Republicans in Washington. Amy Moore as

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Speaker 3: Bloomberg Radio, we.

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Speaker 1: Go to California next, where Hot Dry winds are pummeling

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Speaker 1: Los Angeles and the surrounding areas across southern California. Gust

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Speaker 1: have reached sixty miles per hour, and red flag fire

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Speaker 1: warnings are in place. About two million people are now

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Speaker 1: facing extreme fire conditions. Here is Bloomberg Sarah McGregor.

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Speaker 4: And the big problem, of course, is that these winds

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Speaker 4: can keep planes on the ground that have been doing

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Speaker 4: a lot of the firefighting, keeping things at bay. And

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Speaker 4: so I think there's some feelings that if those get

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Speaker 4: grounded again that things may get out of control. So

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Speaker 4: everyone's just on edge right now.

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Speaker 1: That is Bloomberg Sarah McGregor. There now, winds are expected

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Speaker 1: to ease by Thursday, and humidity is forecast to rise

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Speaker 1: through the weekend. However, another round of dry, dangerous winds

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Speaker 1: may arrive next week. Business News next. Wholesale inflation in

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Speaker 1: the US unexpectedly cooled in December, helped by a drop

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Speaker 1: in food cost and flat services prices. The PPI was

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Speaker 1: up two tents at one percent from the prior month,

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Speaker 1: and the core rate of the Producer price index was unchanged.

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Speaker 1: Here is Bloomberg's Michael McKee.

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Speaker 5: The basics are that PPI for final demand. The headline

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Speaker 5: number came in up two tenths for the month, which

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Speaker 5: is half of what was anticipated. It does on a

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Speaker 5: basif X basis push up final demand to three point

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Speaker 5: three percent from three percent, and then core was flat

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Speaker 5: during the month. No change that too on a well,

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Speaker 5: it didn't really move it because what happened was last

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Speaker 5: month was revised up to three five, so core is

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Speaker 5: three to five. So it's no progress specifically at a

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Speaker 5: year over year basis, but a little progress on a

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Speaker 5: month over month basis.

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Speaker 1: That is Bloomberg's Michael McKee, and that is news when

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Speaker 1: you want it with Bloomberg News. Now, I'm Doug Krisner,

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Speaker 1: and this is Bloomberg