1
00:00:02,480 --> 00:00:06,840
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

2
00:00:09,760 --> 00:00:10,240
Speaker 2: Good morning.

3
00:00:10,320 --> 00:00:13,160
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the

4
00:00:13,200 --> 00:00:14,680
Speaker 1: stories we're following today.

5
00:00:14,880 --> 00:00:18,800
Speaker 3: Karen, we begin with residents of Florida bracing for another hurricane.

6
00:00:19,000 --> 00:00:22,400
Speaker 3: Milton is churning toward the state's west coast, and for

7
00:00:22,440 --> 00:00:26,280
Speaker 3: the very latest we are joined by Bloomberg meteorologist Rob Carolyn.

8
00:00:26,360 --> 00:00:26,599
Speaker 1: Rob.

9
00:00:26,600 --> 00:00:30,200
Speaker 4: Good morning, Good morning, Nathan. Milton is now a Category

10
00:00:30,280 --> 00:00:33,040
Speaker 4: five hurricane in the Gulf of Mexico, which sustained winds

11
00:00:33,040 --> 00:00:35,680
Speaker 4: of one hundred and sixty miles an hour. It's moving

12
00:00:35,720 --> 00:00:38,199
Speaker 4: towards the northeast at about fourteen miles an hour. It's

13
00:00:38,240 --> 00:00:41,200
Speaker 4: expected to make landfall near the Tampa Bay area tonight

14
00:00:41,560 --> 00:00:44,720
Speaker 4: around midnight and exit the Florida coast near Cape Canaveral

15
00:00:44,760 --> 00:00:47,840
Speaker 4: around one or two o'clock tomorrow afternoon. It will weaken

16
00:00:47,920 --> 00:00:49,680
Speaker 4: a bit today, but we still expect the storm to

17
00:00:49,720 --> 00:00:51,720
Speaker 4: produce a ten to fifteen foot storm surge in the

18
00:00:51,760 --> 00:00:54,680
Speaker 4: Tampa Bay area late tonight. Also see winds probably in

19
00:00:54,720 --> 00:00:56,720
Speaker 4: excess of one hundred and twenty five miles an hour

20
00:00:56,760 --> 00:00:58,760
Speaker 4: in Tampa. And it's still going to be a hurricane

21
00:00:58,800 --> 00:01:01,480
Speaker 4: as it passes close to the Lando area overnight and

22
00:01:01,560 --> 00:01:03,400
Speaker 4: off shore of Cape Canaveral tomorrow.

23
00:01:03,720 --> 00:01:05,720
Speaker 3: So when do we expect it all to end?

24
00:01:05,760 --> 00:01:09,319
Speaker 4: Then, Rob, it looks like conditions will improve tomorrow afternoon, Nathan,

25
00:01:09,360 --> 00:01:11,880
Speaker 4: across much of the state, except in northeastern Florida, where

26
00:01:11,880 --> 00:01:14,720
Speaker 4: they could see hurricane force gusts tomorrow afternoon and into

27
00:01:14,720 --> 00:01:15,480
Speaker 4: the early evening.

28
00:01:15,920 --> 00:01:18,640
Speaker 3: All right, Rob, Carolyn with us our Bloomberg meteorologists. Of course,

29
00:01:18,640 --> 00:01:20,880
Speaker 3: we're going to be checking back with you for updates

30
00:01:21,000 --> 00:01:23,240
Speaker 3: throughout the morning. Rob, Thank you well.

31
00:01:23,319 --> 00:01:23,639
Speaker 4: Nathan.

32
00:01:23,640 --> 00:01:26,839
Speaker 1: We have another major story that we're following this morning,

33
00:01:26,920 --> 00:01:30,560
Speaker 1: a possible breakup of tech giant Google. We get the

34
00:01:30,560 --> 00:01:34,080
Speaker 1: breaking details at the Bloomberg's John Tucker, John, good morning.

35
00:01:34,040 --> 00:01:37,640
Speaker 5: Good morning, Karen. The Justice Department considering asking a federal

36
00:01:37,720 --> 00:01:41,000
Speaker 5: judge to force Google to sell off parts of its business.

37
00:01:41,640 --> 00:01:44,120
Speaker 5: This is an effort to end Google's online search monopoly.

38
00:01:44,520 --> 00:01:46,959
Speaker 5: In a late court filing Tuesday, Prosecutors we win, The

39
00:01:47,120 --> 00:01:49,560
Speaker 5: Justice Department said, for more than a decade, Google has

40
00:01:49,600 --> 00:01:53,559
Speaker 5: controlled the most popular distribution channels, leaving rivals with little

41
00:01:53,680 --> 00:01:56,720
Speaker 5: to no incentive to compete for users. It would be

42
00:01:56,760 --> 00:01:59,880
Speaker 5: an historic breakup of one of the world's biggest tech companies.

43
00:02:00,320 --> 00:02:02,440
Speaker 5: The US district judge in the case i'm had made

44
00:02:02,440 --> 00:02:05,520
Speaker 5: a ruled in August that Google Search Engine has been

45
00:02:05,680 --> 00:02:09,920
Speaker 5: illegally exploiting its dominance. He's outlined a timetable for a

46
00:02:10,000 --> 00:02:13,720
Speaker 5: trial on the proposed remedies next spring and plans to

47
00:02:13,760 --> 00:02:16,919
Speaker 5: issue a decision by August. Another option is to order

48
00:02:16,960 --> 00:02:19,880
Speaker 5: Google to provide access to the underlying data it users

49
00:02:19,919 --> 00:02:24,200
Speaker 5: to build its search results in artificial intelligence products. Google

50
00:02:24,280 --> 00:02:27,440
Speaker 5: has already said it plans to appeal. Experts say that

51
00:02:27,480 --> 00:02:30,519
Speaker 5: appeals process could take as long as five years. The

52
00:02:30,639 --> 00:02:33,400
Speaker 5: shares of Google parent Alphabet they are down one point

53
00:02:33,560 --> 00:02:37,280
Speaker 5: three percent in pre market trading York. Come John Tucker,

54
00:02:37,320 --> 00:02:38,480
Speaker 5: Bloomberg Radio.

55
00:02:38,360 --> 00:02:40,720
Speaker 3: All right, John, thank you. Also watching shares of Boeing

56
00:02:40,800 --> 00:02:43,160
Speaker 3: this morning. They're down about one and a half percent.

57
00:02:43,240 --> 00:02:47,119
Speaker 3: The planemaker has withdrawn its latest contract offer to its

58
00:02:47,240 --> 00:02:49,680
Speaker 3: union to try to end a nearly month long strike.

59
00:02:49,840 --> 00:02:53,680
Speaker 3: Both Boeing and the International Association Machinists and Aerospace Workers

60
00:02:53,960 --> 00:02:57,440
Speaker 3: blame each other for the impasse. SMP Global Ratings is

61
00:02:57,480 --> 00:03:00,880
Speaker 3: warning it may cut Boeing's credit grade to junk is

62
00:03:00,919 --> 00:03:04,080
Speaker 3: the work stoppage that is hammering cash shows no sign

63
00:03:04,080 --> 00:03:04,520
Speaker 3: of ending.

64
00:03:05,120 --> 00:03:07,959
Speaker 1: Let's turn to politics now, Nathan and Vice President Kamala

65
00:03:08,080 --> 00:03:11,600
Speaker 1: Harris is seizing on claims that Donald Trump said Vladimir

66
00:03:11,720 --> 00:03:15,920
Speaker 1: putin COVID test kits. Bloomberg's Ed Baxter has that story.

67
00:03:16,320 --> 00:03:18,880
Speaker 2: The claim in Bob Woodward's book says this was at

68
00:03:18,880 --> 00:03:21,920
Speaker 2: the height of the pandemic. Harris told Howard Stern, this

69
00:03:22,080 --> 00:03:25,440
Speaker 2: is just the most recent stark example of who Donald

70
00:03:25,440 --> 00:03:28,720
Speaker 2: Trump is. She said, people were scrambling to get these

71
00:03:28,800 --> 00:03:31,560
Speaker 2: kits and Trump is sending them to a murderous dictator

72
00:03:31,840 --> 00:03:35,560
Speaker 2: for his personal use. Trump's campaign has responded that none

73
00:03:35,600 --> 00:03:38,720
Speaker 2: of these made up stories are true and says Woodward

74
00:03:38,800 --> 00:03:42,240
Speaker 2: had no access to them for the book. Ed Baxter

75
00:03:42,320 --> 00:03:43,400
Speaker 2: Bloomberg Radio.

76
00:03:43,440 --> 00:03:45,640
Speaker 3: Right and thank You this morning. The Kremlin has confirmed

77
00:03:45,720 --> 00:03:48,480
Speaker 3: Trump said putin COVID testing kids at the height of

78
00:03:48,480 --> 00:03:51,040
Speaker 3: the pandemic, as recounted in Bob Woodward's book.

79
00:03:51,680 --> 00:03:53,800
Speaker 1: Well, Nathan, now to the latest from the Middle East.

80
00:03:53,880 --> 00:03:57,000
Speaker 1: Israelly Defense Minister, you have galand has postponed a trip

81
00:03:57,040 --> 00:03:59,720
Speaker 1: to Washington that was set for today. A source tells

82
00:03:59,720 --> 00:04:02,440
Speaker 1: Bloomberg it is due to last minute objections from Prime

83
00:04:02,440 --> 00:04:06,000
Speaker 1: Minister Benjamin at Yahoo. We get more from Bloomberg Middle

84
00:04:06,040 --> 00:04:08,160
Speaker 1: East Breaking News editor Dana Crege.

85
00:04:08,520 --> 00:04:11,920
Speaker 6: The trip was scheduled for Gallant to go to the

86
00:04:12,040 --> 00:04:17,120
Speaker 6: US and discuss with US officials the response to Iran's

87
00:04:17,120 --> 00:04:19,840
Speaker 6: missile attack last week. This was supposed to be very

88
00:04:19,880 --> 00:04:23,560
Speaker 6: significant and very important, So we actually carved the path

89
00:04:23,680 --> 00:04:27,080
Speaker 6: towards what we can expect in the region. Is it

90
00:04:27,120 --> 00:04:30,040
Speaker 6: an escalation or is it more, you know, reducing these

91
00:04:30,080 --> 00:04:33,239
Speaker 6: tensions and calming things with the Lebanon situations flaring.

92
00:04:33,600 --> 00:04:36,119
Speaker 1: Bloomberg's Dana Creche or porst net and Yah, who didn't

93
00:04:36,120 --> 00:04:39,200
Speaker 1: want Gallant to go before his warcabinet, agrees to an

94
00:04:39,240 --> 00:04:42,719
Speaker 1: around plan first, and Israeli official says Netanya, who also

95
00:04:42,800 --> 00:04:45,920
Speaker 1: wants to speak to President Biden first, that conversation is

96
00:04:46,040 --> 00:04:47,279
Speaker 1: expected to happen today.

97
00:04:47,520 --> 00:04:50,839
Speaker 3: Well, training the markets now, Karen stocks sold off in China,

98
00:04:50,920 --> 00:04:54,840
Speaker 3: falling more than seven percent. Chinese equities we're down even more,

99
00:04:55,200 --> 00:04:58,400
Speaker 3: but they paired losses on word. China's finance minister will

100
00:04:58,400 --> 00:05:00,880
Speaker 3: deliver a briefing on fiscal pol I'll see on Saturday.

101
00:05:01,279 --> 00:05:03,480
Speaker 1: Well, here in the US, Nathan more Fed officials are

102
00:05:03,520 --> 00:05:07,400
Speaker 1: speaking out about the future of monetary policy. Boston President

103
00:05:07,480 --> 00:05:11,560
Speaker 1: Susan Collins says policymakers should focus on incoming data to

104
00:05:11,680 --> 00:05:13,480
Speaker 1: help preserve the strength of the economy.

105
00:05:13,760 --> 00:05:18,800
Speaker 7: Looking ahead, preserving the current favorable economic conditions will require

106
00:05:18,880 --> 00:05:24,159
Speaker 7: adjusting monetary policy so as not to unnecessarily restrain demand,

107
00:05:24,800 --> 00:05:28,360
Speaker 7: and that will require a careful databased approach as we

108
00:05:28,520 --> 00:05:31,520
Speaker 7: balance the risks, and there are risks on both sides.

109
00:05:32,080 --> 00:05:35,240
Speaker 1: Boston Fed President Susan Colin says the economy is more

110
00:05:35,440 --> 00:05:38,880
Speaker 1: vulnerable to shocks now that the labor market is cooling

111
00:05:38,960 --> 00:05:40,640
Speaker 1: and economic growth is moderating.

112
00:05:41,040 --> 00:05:43,760
Speaker 3: Karen billionaire investor rate Dally Hotels Bloomberg, he does not

113
00:05:43,960 --> 00:05:47,720
Speaker 3: anticipate the Fed making significant cuts and rates. After policymakers

114
00:05:47,760 --> 00:05:50,200
Speaker 3: slash the federal funds rate by a half percentage point.

115
00:05:50,640 --> 00:05:54,000
Speaker 8: The economy by and large, right now itself is in

116
00:05:54,200 --> 00:05:57,720
Speaker 8: relatively good balance. So if you look at where growth is,

117
00:05:57,839 --> 00:06:00,560
Speaker 8: where inflation is, and so on right now, and you

118
00:06:00,640 --> 00:06:03,799
Speaker 8: have a political year, I think the markets are getting

119
00:06:03,839 --> 00:06:06,840
Speaker 8: ahead of themselves with expecting that, and I think the

120
00:06:06,960 --> 00:06:09,480
Speaker 8: risks are more on the upside than the downside.

121
00:06:09,839 --> 00:06:13,279
Speaker 3: Bridgewater Associates founder Ray Dalio spoke with Bloomberg Shinelli Basset

122
00:06:13,320 --> 00:06:15,360
Speaker 3: at the Granwich Economic Forum. You can hear their full

123
00:06:15,440 --> 00:06:18,919
Speaker 3: conversation on the Bloomberg Talks podcast. It features the biggest

124
00:06:19,040 --> 00:06:22,520
Speaker 3: interviews from Bloomberg each day. Find it on Apple, Spotify,

125
00:06:22,720 --> 00:06:24,240
Speaker 3: or wherever you get your podcasts.

126
00:06:24,560 --> 00:06:26,640
Speaker 1: Well Nathan speaking of some of the biggest names across

127
00:06:26,680 --> 00:06:30,080
Speaker 1: Bloomberg and other Wall Street titan is speaking about the economy.

128
00:06:30,200 --> 00:06:33,760
Speaker 1: We spoke exclusively with JP Morgan Chase CEO Jamie Dimond

129
00:06:34,000 --> 00:06:35,880
Speaker 1: about whether it's soft landing as possible.

130
00:06:36,160 --> 00:06:38,480
Speaker 9: I just think there's a lot of moving parts, a

131
00:06:38,560 --> 00:06:41,320
Speaker 9: lot of things in the future which inflationary. These you know,

132
00:06:41,360 --> 00:06:44,040
Speaker 9: the most important thing taking place of these wars overseas

133
00:06:44,120 --> 00:06:47,640
Speaker 9: held politics. You know, there are terrible humane suffering, you know,

134
00:06:47,720 --> 00:06:50,600
Speaker 9: but also the you know, much of these countries acting

135
00:06:50,640 --> 00:06:54,719
Speaker 9: in cahoots against Western interests, against Israel, against Ukraine, against

136
00:06:54,760 --> 00:06:57,240
Speaker 9: the United States, and that's really serious. So I look

137
00:06:57,279 --> 00:07:00,440
Speaker 9: at a long amount of serious things softly are hard.

138
00:07:00,600 --> 00:07:01,400
Speaker 9: I hope it happens.

139
00:07:01,480 --> 00:07:01,920
Speaker 10: I don't know.

140
00:07:02,839 --> 00:07:04,680
Speaker 9: I just wouldn't count my eggs in that one.

141
00:07:05,320 --> 00:07:08,520
Speaker 1: JP Morgan Chase CEO Jamie Dimond spoke with Bloomberg's Lisa

142
00:07:08,560 --> 00:07:12,120
Speaker 1: Abramowitz at the JP Morgan Tech Stars conference in London.

143
00:07:12,400 --> 00:07:15,720
Speaker 3: Finally, Karen, getting into the Happiest place on Earth now costsmore.

144
00:07:15,920 --> 00:07:19,800
Speaker 3: In California, Disney is raising ticket prices at it's Disneyland

145
00:07:19,880 --> 00:07:23,880
Speaker 3: and California Adventure theme parks by about six percent most days.

146
00:07:24,280 --> 00:07:27,680
Speaker 3: The least expensive admission that covers fifteen days in January

147
00:07:27,680 --> 00:07:30,360
Speaker 3: and February, that's going to stay unchanged at one hundred

148
00:07:30,360 --> 00:07:33,360
Speaker 3: and four dollars, but the most expensive weekend and holiday

149
00:07:33,400 --> 00:07:36,240
Speaker 3: tickets are going up to two hundred and six dollars

150
00:07:36,360 --> 00:07:39,560
Speaker 3: per day. That change is in effect now.

151
00:07:43,680 --> 00:07:45,040
Speaker 1: Honest time now for a look at some of the

152
00:07:45,080 --> 00:07:47,400
Speaker 1: other stories making news in New York and around the world.

153
00:07:47,480 --> 00:07:50,840
Speaker 1: For that, we're joined by Bloomberg's Michael Barr. Good morning, Michael, Good.

154
00:07:50,760 --> 00:07:54,360
Speaker 10: Morning, Karen. The FBI says it arreested in Afghan man

155
00:07:54,680 --> 00:07:57,440
Speaker 10: who was plotting a terror attack in the US on

156
00:07:57,680 --> 00:08:01,320
Speaker 10: election Day, planning to kill America on behalf of ices.

157
00:08:01,880 --> 00:08:04,560
Speaker 10: The suspect has been identified as twenty seven year old

158
00:08:04,680 --> 00:08:10,520
Speaker 10: Nasir Ahmad Tahiti of Oklahoma City. Juvenile was also arrested

159
00:08:10,560 --> 00:08:15,480
Speaker 10: as a co conspirator. DOJ officials say the investigation intensified

160
00:08:15,920 --> 00:08:20,480
Speaker 10: after the FBI search Tahiti's phone and discovered communication with

161
00:08:20,640 --> 00:08:25,000
Speaker 10: an Afghan ISIS recruiter. Fourteen states filed a suit against

162
00:08:25,080 --> 00:08:28,960
Speaker 10: video sharing app TikTok, alleging the effects of its platform

163
00:08:29,120 --> 00:08:32,920
Speaker 10: are harming the mental health of millions of American children

164
00:08:33,040 --> 00:08:38,480
Speaker 10: and teenagers. Doctor Darien Sutton told ABC doctors recommend limiting

165
00:08:38,559 --> 00:08:40,280
Speaker 10: children's screen time.

166
00:08:40,440 --> 00:08:44,160
Speaker 11: General recommendations from the American Academy of Pediatrics. For example,

167
00:08:44,280 --> 00:08:47,520
Speaker 11: children under two should have no screen time. Between two

168
00:08:47,600 --> 00:08:49,720
Speaker 11: and five, no more than two hours of screen time

169
00:08:49,800 --> 00:08:52,000
Speaker 11: that is monitored by an adult, and then above the

170
00:08:52,080 --> 00:08:53,960
Speaker 11: age of five, for all of us, no more than

171
00:08:54,000 --> 00:08:55,240
Speaker 11: two hours of screen time.

172
00:08:56,280 --> 00:08:59,439
Speaker 10: In a statement, TikTok responded to the lawsuits, saying the

173
00:08:59,480 --> 00:09:02,600
Speaker 10: company has been trying to work with the Attorney's General

174
00:09:02,880 --> 00:09:08,000
Speaker 10: to find constructive solutions to industry wide challenges. President Biden

175
00:09:08,040 --> 00:09:12,840
Speaker 10: announced the final rule requiring drinking water systems nationwide replace

176
00:09:13,120 --> 00:09:14,320
Speaker 10: lead pipes within.

177
00:09:14,200 --> 00:09:18,400
Speaker 12: Ten years, saving hundreds of thousands of mothers and infants

178
00:09:19,080 --> 00:09:22,920
Speaker 12: from low birth rates and children with lasting brain damage,

179
00:09:23,679 --> 00:09:28,079
Speaker 12: Protecting more than a thousand adults from premature death from

180
00:09:28,160 --> 00:09:30,600
Speaker 12: heart disease every single year because of.

181
00:09:30,679 --> 00:09:35,000
Speaker 10: Lead Speaking in Milwaukee, Biden says he's securing fifteen billion

182
00:09:35,160 --> 00:09:40,120
Speaker 10: dollars in funding through the Bipartisan Infrastructure Law for the work. Today,

183
00:09:40,280 --> 00:09:43,040
Speaker 10: the Supreme Court will hear oral arguments in the case

184
00:09:43,160 --> 00:09:47,160
Speaker 10: of Oklahoma death row inmate Richard Glossop, convicted in a

185
00:09:47,280 --> 00:09:50,800
Speaker 10: nineteen ninety seven murder. The state's attorney general and others

186
00:09:51,120 --> 00:09:55,960
Speaker 10: say new evidence shows prosecutorial misconduct at his trial, arguing

187
00:09:56,120 --> 00:09:58,760
Speaker 10: he should get a new one. The Supreme Court will

188
00:09:58,840 --> 00:10:01,760
Speaker 10: now consider whether the eight must carry out his execution.

189
00:10:02,400 --> 00:10:04,880
Speaker 10: Global News twenty four hours a day and whenever you

190
00:10:05,000 --> 00:10:07,679
Speaker 10: want it with Bloomberg News Now. I'm Michael Barr, and

191
00:10:07,800 --> 00:10:09,320
Speaker 10: this is Bloomberg Karen.

192
00:10:09,440 --> 00:10:16,040
Speaker 1: All right, Michael Barr, thank you time now for the

193
00:10:16,080 --> 00:10:19,720
Speaker 1: Bloomberg Sports Update, brought to you by Tri State Audie.

194
00:10:19,720 --> 00:10:22,040
Speaker 1: Here's John Stanshower. John, good morning, Good.

195
00:10:21,880 --> 00:10:22,440
Speaker 10: Morning, Karen.

196
00:10:22,520 --> 00:10:25,640
Speaker 13: This was a season where Mets ownership and management admitted

197
00:10:25,679 --> 00:10:26,520
Speaker 13: they weren't.

198
00:10:26,320 --> 00:10:27,400
Speaker 10: Really going for it.

199
00:10:27,480 --> 00:10:29,720
Speaker 13: They would try to compete and then spend money going

200
00:10:29,760 --> 00:10:31,680
Speaker 13: into twenty twenty five, and they began the season onh

201
00:10:31,720 --> 00:10:34,679
Speaker 13: one five or later eleven games under five hundred, and

202
00:10:34,840 --> 00:10:37,679
Speaker 13: yet here are the Mets a win today. They'll be

203
00:10:37,800 --> 00:10:40,240
Speaker 13: playing to win the Pennant. Mets and Phillies. Game three

204
00:10:40,280 --> 00:10:43,480
Speaker 13: in Cityfield, the Mets twice went over the wall in right.

205
00:10:44,160 --> 00:10:46,679
Speaker 2: First pitch on the way and high. They earn a

206
00:10:46,800 --> 00:10:49,880
Speaker 2: light field, pretty deep Castiana's back at the track at

207
00:10:50,000 --> 00:10:51,000
Speaker 2: the water stop.

208
00:10:51,480 --> 00:10:52,559
Speaker 13: He headed off.

209
00:10:52,640 --> 00:10:56,440
Speaker 4: Let's face sake, mom the second deck the Coca Cola corner.

210
00:10:56,720 --> 00:11:01,120
Speaker 4: Another opposite field hold run for Peter. All two to one.

211
00:11:02,120 --> 00:11:03,520
Speaker 4: Winker hits a high drive.

212
00:11:03,720 --> 00:11:05,600
Speaker 2: Right field toward the poll.

213
00:11:05,920 --> 00:11:10,720
Speaker 7: It is gone, second tech shot Jesse Winker.

214
00:11:10,880 --> 00:11:14,040
Speaker 13: The calls on whsq. Mets went on to win seven

215
00:11:14,160 --> 00:11:16,240
Speaker 13: to two, seven strong names from Sean and I, and

216
00:11:16,320 --> 00:11:18,800
Speaker 13: they leave the series to to one. Game four, also

217
00:11:18,920 --> 00:11:22,000
Speaker 13: a five o'clock start in San Diego. The Padres put

218
00:11:22,080 --> 00:11:24,199
Speaker 13: up six runs in the second inning. The Dodgers came

219
00:11:24,280 --> 00:11:25,800
Speaker 13: back with four in the third to make it six

220
00:11:25,840 --> 00:11:28,320
Speaker 13: to five. No scoring after that, and the Padres are

221
00:11:28,400 --> 00:11:30,160
Speaker 13: up two games to one. The Yankees look to go

222
00:11:30,240 --> 00:11:32,520
Speaker 13: up to one as they play Game three tonight in

223
00:11:32,640 --> 00:11:35,240
Speaker 13: Kansas City. The Jets came home from the loss in

224
00:11:35,360 --> 00:11:37,720
Speaker 13: London that dropped them to two and three. Coach Robert

225
00:11:37,800 --> 00:11:40,200
Speaker 13: Salam met the media as usual on Monday, and then

226
00:11:40,280 --> 00:11:43,120
Speaker 13: yesterday met with his coaches before a visit to owner

227
00:11:43,120 --> 00:11:46,160
Speaker 13: Woody Johnson, who fired him and Salah was escorted out

228
00:11:46,200 --> 00:11:50,200
Speaker 13: of the building, replaced by defensive cordator Jeff Ulbrich. Johnson's

229
00:11:50,240 --> 00:11:52,160
Speaker 13: made a ton of coaching changes, but this was his

230
00:11:52,240 --> 00:11:55,360
Speaker 13: first in season change and worth noting. Only once in

231
00:11:55,400 --> 00:11:57,559
Speaker 13: the last sixty two years as a team gone to

232
00:11:57,600 --> 00:12:01,640
Speaker 13: the playoffs after making it in season t WNBA Minnesota,

233
00:12:01,760 --> 00:12:04,800
Speaker 13: Connecticut eighty eight seventy seven. So it's the Links who

234
00:12:04,840 --> 00:12:07,520
Speaker 13: will face the Liberty and the Finals starting tomorrow in Brooklyn.

235
00:12:07,840 --> 00:12:09,960
Speaker 13: John stash Aware, Bloomberg Sports Canny.

236
00:12:09,800 --> 00:12:12,160
Speaker 1: Nathan all Right, John, thank you. The Bloomberg Sports Update

237
00:12:12,200 --> 00:12:14,679
Speaker 1: brought to you by Audi. Visit your Trili State Audi

238
00:12:14,760 --> 00:12:16,920
Speaker 1: dealer today and get behind the wheel of the Audi

239
00:12:17,040 --> 00:12:18,400
Speaker 1: model you've always wanted.

240
00:12:21,000 --> 00:12:25,000
Speaker 10: Coast to coast on Bloomberg Radio nationwide on Sirius XM,

241
00:12:25,200 --> 00:12:26,040
Speaker 10: and around.

242
00:12:25,760 --> 00:12:29,360
Speaker 2: The world on Bloomberg dot Com and the Bloomberg Business app.

243
00:12:29,600 --> 00:12:32,080
Speaker 10: This is Bloomberg Daybreak. Good morning.

244
00:12:32,080 --> 00:12:34,320
Speaker 3: I'm Nathan Haygary could be one of the most significant

245
00:12:34,360 --> 00:12:37,520
Speaker 3: antitrust actions against a big tech company in decades. The

246
00:12:37,760 --> 00:12:40,959
Speaker 3: Justice Department is considering asking a federal judge to order

247
00:12:41,080 --> 00:12:44,439
Speaker 3: Google to sell off parts of its business. And from

248
00:12:44,480 --> 00:12:48,280
Speaker 3: where we're joined by Bloomberg News executive editor Peter Elstrom. Peter,

249
00:12:48,400 --> 00:12:50,760
Speaker 3: good morning. So what is it exactly that the Justice

250
00:12:50,800 --> 00:12:52,079
Speaker 3: Department is considering here?

251
00:12:52,440 --> 00:12:54,920
Speaker 14: So what we're seeing now is that the Justice Department

252
00:12:55,120 --> 00:12:59,319
Speaker 14: is proposing potential solutions to this anti trust case that

253
00:12:59,440 --> 00:13:03,240
Speaker 14: they have been waging against Google. Back in August, the

254
00:13:03,360 --> 00:13:06,800
Speaker 14: judge in this case, Emmitt Meta, ruled that Google indeed

255
00:13:07,400 --> 00:13:11,199
Speaker 14: did have a monopoly in search and it had abused

256
00:13:11,240 --> 00:13:15,440
Speaker 14: its power in the search business. And so the Justice

257
00:13:15,480 --> 00:13:18,720
Speaker 14: Department presented this thirty two page document where they laid

258
00:13:18,760 --> 00:13:21,959
Speaker 14: out a framework of potential solutions that could now be

259
00:13:22,200 --> 00:13:26,600
Speaker 14: used to address those concerns. They include some structural changes

260
00:13:26,720 --> 00:13:30,280
Speaker 14: and also some behavioral changes. Perhaps the most dramatic option

261
00:13:30,480 --> 00:13:33,839
Speaker 14: here is that they're proposing the judge should order a

262
00:13:33,880 --> 00:13:34,760
Speaker 14: breakup of Google.

263
00:13:35,080 --> 00:13:38,400
Speaker 3: That is certainly a dramatic possibility. I mean, it would

264
00:13:38,440 --> 00:13:41,800
Speaker 3: be a pretty significant development. One of the biggest sense

265
00:13:42,000 --> 00:13:44,000
Speaker 3: the effort to break up Microsoft.

266
00:13:44,120 --> 00:13:47,199
Speaker 14: Right right, of course, the effort to break up Microsoft

267
00:13:47,240 --> 00:13:49,920
Speaker 14: did not result in a breakup of Microsoft. It did

268
00:13:50,000 --> 00:13:52,599
Speaker 14: result in Microsoft having to pull back from some of

269
00:13:52,679 --> 00:13:56,440
Speaker 14: the potential acquisitions and investments that perhaps they would have done,

270
00:13:56,520 --> 00:13:59,559
Speaker 14: but at that time the US government was seeking to

271
00:13:59,640 --> 00:14:04,040
Speaker 14: set rate perhaps the operating system or the Windows the

272
00:14:04,120 --> 00:14:08,120
Speaker 14: Windows operating system, or the office franchise from Microsoft. In

273
00:14:08,240 --> 00:14:11,040
Speaker 14: this case, what the Justice Department is floating is perhaps

274
00:14:11,120 --> 00:14:14,719
Speaker 14: separating out some of the different businesses of Google that

275
00:14:14,840 --> 00:14:19,280
Speaker 14: it has been using to supplement that search business. Search

276
00:14:19,360 --> 00:14:22,160
Speaker 14: has always been the most profitable business that at Google

277
00:14:23,080 --> 00:14:26,680
Speaker 14: generates tremendous amounts of advertising profits for the company, but

278
00:14:26,800 --> 00:14:29,840
Speaker 14: it also uses some of its ancillary businesses to build

279
00:14:29,920 --> 00:14:33,200
Speaker 14: up search. That includes Chrome, the browser where people often

280
00:14:33,320 --> 00:14:35,680
Speaker 14: go to find different things. You can use that to

281
00:14:35,760 --> 00:14:38,960
Speaker 14: search directly. That can funnel people to search. You've also

282
00:14:39,040 --> 00:14:41,680
Speaker 14: got the Android operating system, which is the most popular

283
00:14:41,800 --> 00:14:47,560
Speaker 14: mobile operating system, that also often uses its technology to

284
00:14:47,640 --> 00:14:49,720
Speaker 14: direct people to Google Search. And then on top of that,

285
00:14:49,760 --> 00:14:52,960
Speaker 14: what we find out during the case is that Google

286
00:14:53,040 --> 00:14:56,360
Speaker 14: alphabet pays billions of dollars to different companies to use

287
00:14:56,440 --> 00:14:59,320
Speaker 14: Google Search, including Apple. Apple's one of the big beneficiaries

288
00:14:59,480 --> 00:15:02,960
Speaker 14: on iPhone get directed to Google Search too, And.

289
00:15:03,080 --> 00:15:06,000
Speaker 3: It seems like a lot of this pressure has really

290
00:15:06,240 --> 00:15:10,760
Speaker 3: ramped up with the rise of artificial intelligence alongside it,

291
00:15:10,960 --> 00:15:15,840
Speaker 3: and how that's improved and increased the capabilities of that

292
00:15:16,040 --> 00:15:19,720
Speaker 3: search function. How does artificial intelligence play into this anti

293
00:15:19,800 --> 00:15:20,480
Speaker 3: trust scrutiny.

294
00:15:21,640 --> 00:15:27,040
Speaker 14: I think Apple and AI has been a threat more

295
00:15:27,160 --> 00:15:32,080
Speaker 14: broadly to several different businesses, including Google's search business. There

296
00:15:32,160 --> 00:15:36,160
Speaker 14: was discussion shortly after open ai introduced chet GPT that

297
00:15:36,320 --> 00:15:38,920
Speaker 14: perhaps people wouldn't have to search anymore. Instead of going

298
00:15:38,960 --> 00:15:41,960
Speaker 14: to Google getting that list of potential links and then

299
00:15:42,000 --> 00:15:44,400
Speaker 14: clicking through them, you just go to shut gpt. You'd

300
00:15:44,400 --> 00:15:46,640
Speaker 14: ask a question, you get an answer instead of a

301
00:15:46,680 --> 00:15:49,120
Speaker 14: bunch of links. So that was clearly viewed as a

302
00:15:49,240 --> 00:15:53,160
Speaker 14: threat to Google's business. Since then, Google has accelerated its

303
00:15:53,160 --> 00:15:56,800
Speaker 14: own AI efforts to try to catch up to some

304
00:15:56,920 --> 00:15:59,280
Speaker 14: of the things that open ai had put into the market.

305
00:15:59,560 --> 00:16:01,840
Speaker 14: Google is very advanced, They had done a ton of

306
00:16:01,920 --> 00:16:04,200
Speaker 14: research and AI already, but they had him put some

307
00:16:04,240 --> 00:16:06,760
Speaker 14: of those services into the market at this point. Now

308
00:16:06,840 --> 00:16:09,880
Speaker 14: they're getting more aggressive through Gemini and some of their

309
00:16:09,960 --> 00:16:13,680
Speaker 14: other products and using AI. But that is one of

310
00:16:13,800 --> 00:16:16,800
Speaker 14: the big potential prizes in the future. And I think

311
00:16:16,920 --> 00:16:19,440
Speaker 14: one of the concerns that the Justice Department and FTC

312
00:16:19,680 --> 00:16:22,120
Speaker 14: also is that the big tech companies are going to

313
00:16:22,240 --> 00:16:27,120
Speaker 14: use their existing monopolies of their existing franchises to capitalize

314
00:16:27,200 --> 00:16:30,240
Speaker 14: on AI, which is really the big prize in the future.

315
00:16:30,680 --> 00:16:34,160
Speaker 3: So this report's just come out, these potential remedies. Is

316
00:16:34,200 --> 00:16:36,680
Speaker 3: there any way to tell at this point where the

317
00:16:36,840 --> 00:16:40,760
Speaker 3: judge might lean in terms of the kind of remedies

318
00:16:40,920 --> 00:16:42,640
Speaker 3: that he could seek in this case.

319
00:16:43,640 --> 00:16:49,560
Speaker 14: We really don't know that. What we got most recently

320
00:16:49,680 --> 00:16:52,640
Speaker 14: is this thirty two page document where the Justice Department

321
00:16:52,760 --> 00:16:55,520
Speaker 14: is laying out potential remedies that it sees in the case.

322
00:16:55,880 --> 00:16:59,560
Speaker 14: Google immediately weighed in. They said these were radical proposals,

323
00:17:00,040 --> 00:17:03,680
Speaker 14: they would have unintended consequences. At one point they said

324
00:17:03,680 --> 00:17:07,000
Speaker 14: that a breakup would actually break the company, which is

325
00:17:07,040 --> 00:17:09,080
Speaker 14: a bit surprising. And we have quite a few months

326
00:17:09,119 --> 00:17:11,320
Speaker 14: to go. There's going to be a hearing early next

327
00:17:11,440 --> 00:17:13,600
Speaker 14: year where lawyers on both sides are going to be

328
00:17:13,640 --> 00:17:16,399
Speaker 14: able to make their case in front of I'm at

329
00:17:16,480 --> 00:17:21,000
Speaker 14: meta the judge, and then the expected target for a

330
00:17:21,080 --> 00:17:25,000
Speaker 14: decision would be fairly late next year, roughly in August,

331
00:17:25,359 --> 00:17:27,080
Speaker 14: So there are many months. There's a lot of arguments

332
00:17:27,119 --> 00:17:28,840
Speaker 14: that are going to go into this. Again, if you

333
00:17:28,880 --> 00:17:33,840
Speaker 14: look at historical president Microsoft, ultimately they decided that behavioral

334
00:17:34,320 --> 00:17:36,920
Speaker 14: changes were more important than structural changes. That could be

335
00:17:37,000 --> 00:17:39,720
Speaker 14: the case here too. You know, Alternatively, they'd have to

336
00:17:39,760 --> 00:17:42,520
Speaker 14: figure out how you would separate what's a very integrated

337
00:17:42,560 --> 00:17:47,000
Speaker 14: company at this point and do it without causing unintended

338
00:17:47,040 --> 00:17:48,159
Speaker 14: harm to consumers.

339
00:17:48,480 --> 00:17:51,399
Speaker 1: This is Bloombery day Break, your morning podcast on the

340
00:17:51,480 --> 00:17:54,919
Speaker 1: stories making news from Wall Street to Washington and beyond.

341
00:17:55,240 --> 00:17:57,600
Speaker 3: Look for us on your podcast feed by six am

342
00:17:57,680 --> 00:18:01,080
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.

343
00:18:01,280 --> 00:18:04,120
Speaker 1: You can also listen live each morning starting at five

344
00:18:04,160 --> 00:18:06,800
Speaker 1: am Wall Street time on Bloomberg eleven three to zero

345
00:18:06,920 --> 00:18:09,760
Speaker 1: in New York, Bloomberg in ninety nine to one in Washington,

346
00:18:09,880 --> 00:18:13,760
Speaker 1: Bloomberg ninety two nine in Boston, and nationwide on serious

347
00:18:14,000 --> 00:18:15,520
Speaker 1: XM Channel one twenty one.

348
00:18:15,960 --> 00:18:18,640
Speaker 3: Plus listen coast to coast on the Bloomberg Business app

349
00:18:18,760 --> 00:18:21,480
Speaker 3: Now with Apple CarPlay and Android Atto interfaces.

350
00:18:21,760 --> 00:18:24,360
Speaker 1: And don't forget to subscribe to Bloomberg and News Now.

351
00:18:24,640 --> 00:18:27,160
Speaker 1: It's the latest news whenever you want it in five

352
00:18:27,240 --> 00:18:30,280
Speaker 1: minutes or less. Search Bloomberg News Now and your favorite

353
00:18:30,280 --> 00:18:34,880
Speaker 1: podcast platform to stay informed all day long. I'm Karen Moscow.

354
00:18:34,760 --> 00:18:37,240
Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for

355
00:18:37,320 --> 00:18:39,199
Speaker 3: all the news you need to start your day right

356
00:18:39,280 --> 00:18:40,320
Speaker 3: here on Bloomberg.

357
00:18:40,400 --> 00:18:40,720
Speaker 4: Dabraay