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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: Leslie Lato. Apple has a growing problem in China as

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Speaker 1: a government's ban on iPhone use intensifies. We get that

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Speaker 1: story from Bloomberg's Denise Pellegrini.

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Speaker 2: Growing number of Chinese agencies and government backfirms cross country

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Speaker 2: have ordered staff to stop bringing iPhones and other foreign

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Speaker 2: devices to work, spelling trouble for Apple and also rival Samsung.

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Speaker 2: Sources say multiple state firms and government departments cross at

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Speaker 2: least eight Chinese provinces, including the Prosperous Coasts, are now

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Speaker 2: instructing employees to start carrying local brands instead. Different organizations

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Speaker 2: will likely vary in how zealously they enforce these internal edicts,

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Speaker 2: with some forbidding Apple devices from the workplace and others

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Speaker 2: banning their use entirely. Apple gets the majority of the

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Speaker 2: world's iPhones from sprawling factories run by suppliers like Foxcon

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Speaker 2: that employ millions of Chinese workers. In addition to possible

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Speaker 2: security concerns in China, it is worth noting that the

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Speaker 2: new Chinese restricts do coincide with the country's push to

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Speaker 2: become self sufficient in high tech. Denise Pelligridy Bloomberg.

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Speaker 1: Radio two Federal Reserve officials on Friday, pushing back on

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Speaker 1: growing expectations in financial markets for the Central Bank to

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Speaker 1: cut interest rates as soon as March. That story from

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Speaker 1: Bloomberg's Charlie Pellett.

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Speaker 3: New York Fed President John Williams told CNBC that it

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Speaker 3: is too early for officials to begin thinking about lowering

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Speaker 3: borrowing costs as they consider whether Polsey is restrictive enough

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Speaker 3: to get inflation back to two percent. Separately, Atlanta FED

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Speaker 3: President Raphael Bostik, who votes on monetary potlecy next year,

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Speaker 3: told Reuters that he expects two rate cuts in twenty

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Speaker 3: twenty four, but not starting in tel the third quarter.

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Speaker 3: Charlie Pellett Bloomberg.

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Speaker 1: Radio, Louis Vatan and other luxury goods stocks maybe facing

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Speaker 1: a weaker new year. China's reopening after the pandemic fueled

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Speaker 1: a splurge on pricey handbags, on jewelry and jewelry this

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Speaker 1: year before out of steam. Investors say twenty twenty four

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Speaker 1: could start on weak footing ahead of a possible revival

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Speaker 1: in the second half of the year. The healthy start

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Speaker 1: to twenty twenty three, which pushed LVMH passed a five

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Speaker 1: hundred billion dollar market value is a distant memory. Now

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Speaker 1: sentiment has been soured by a slew of economic numbers

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Speaker 1: pointing to a fading recovery in China. Chinese e commerce

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Speaker 1: retailers Temu and Shane have many fans in the US

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Speaker 1: due to their ultra low cost goods. Temu the most

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Speaker 1: downloaded free app in the Apple App Store. In Shane

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Speaker 1: about to have a gigantic IPO next year. Temu filing

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Speaker 1: another suit last week claiming Shane was using Mafia's style

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Speaker 1: tactics to intimidate suppliers. Plus there are copyright claims, which

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Speaker 1: Temu claims is hurting their growth. It's a second lawsuit

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Speaker 1: by Temu against Shane. The other of the summer an

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Speaker 1: antitrust case alleging Shane was bullying thousands of suppliers in China.

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Speaker 1: Shane counter sewing, but both of the companies dropped their

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Speaker 1: lawsuits in October last year's Jane sued Tumu for allegedly

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Speaker 1: hiring influencers to drag the company. Whether you like oj

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Speaker 1: coffee or even hot chocolate with your breakfast, finding something

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Speaker 1: to drink in the morning is getting more expensive.

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Speaker 4: Bloomberg's Nathan Hager reports chocolate up to the weather for

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Speaker 4: this corner of the commodities market. Orange juice futures are

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Speaker 4: up more than eighty percent this year. In fact, they

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Speaker 4: hit a record last month. That's thanks to storms and

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Speaker 4: disease running through Florida. Similar issues in West Africa have

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Speaker 4: sent cocoa prices to their highest level since the nineteen seventies.

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Speaker 4: As for coffee, dry weather in Brazil has robusta beans

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Speaker 4: at an all time high. Even instant coffee won't be

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Speaker 4: safe from rising prices. Nathan Hager Bloomberg Radio.

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Speaker 1: Not a great time for a tight sugar market. US

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Speaker 1: confectionery companies are filling anything but jolly as they head

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Speaker 1: into one of the sugar market's tightest years in recent memory.

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Speaker 1: Prolonged droughts and the major cane producers of Mexico and

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Speaker 1: Louisiana helping to push US sugar futures to their highest

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Speaker 1: level ever for this time of year, forcing users to

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Speaker 1: turn to high cost imports instead. Suitets makers paying up

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Speaker 1: to snag supplies are choosing to protect their margins by

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Speaker 1: raising prices for consumers and helping shoppers don't bock at

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Speaker 1: the Markup. Speaking of Candy, Wonka is off to a

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Speaker 1: fast start at the box office, the film making three

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Speaker 1: point five million dollars on Friday from Thursday previews. It's

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Speaker 1: on track to make more than thirty five million dollars

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Speaker 1: in the first weekend it's in theaters. The movie following

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Speaker 1: a young version of Willy Wonka as he looks to

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Speaker 1: build his chocolate empire. That's News when you want it

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Speaker 1: with Bloomberg News Now. I'm Leslie, Lana and Missus Koombok.