WEBVTT - LA Faces High Winds as Fire Battle Continues; SEC Sues Elon Musk      

0:00:02.720 --> 0:00:07.240
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:10.240 --> 0:00:13.440
<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

0:00:13.440 --> 0:00:15.160
<v Speaker 2>are the stories we're following today.

0:00:15.320 --> 0:00:18.239
<v Speaker 3>Karen, we begin with the latest on the Los Angeles wildfires.

0:00:18.320 --> 0:00:21.080
<v Speaker 3>Crews from as far away as Canada are still struggling

0:00:21.120 --> 0:00:24.200
<v Speaker 3>to contain the massive blazes that broke out eight days ago.

0:00:24.720 --> 0:00:27.680
<v Speaker 3>Now the same combination of high winds and low humidity

0:00:27.680 --> 0:00:29.960
<v Speaker 3>that set them off in the first place is threatening

0:00:30.000 --> 0:00:33.000
<v Speaker 3>the region again. LA Mayor Karen Bass says the next

0:00:33.000 --> 0:00:35.360
<v Speaker 3>twenty four to forty eight hours will be critical.

0:00:35.720 --> 0:00:38.920
<v Speaker 4>If you are told that you are in a warning zone.

0:00:39.280 --> 0:00:42.960
<v Speaker 5>It would be advised that you actually take that opportunity

0:00:43.000 --> 0:00:45.880
<v Speaker 5>to leave, get packed, get everything ready.

0:00:46.080 --> 0:00:49.040
<v Speaker 3>Mayor Karen Bass says she's issued directives to help fast

0:00:49.080 --> 0:00:52.080
<v Speaker 3>track the rebuilding, but first conditions on the ground need

0:00:52.120 --> 0:00:56.480
<v Speaker 3>to improve. Palisades Fire incident meteorologist Rich Thompson says they're

0:00:56.480 --> 0:00:57.080
<v Speaker 3>getting there.

0:00:57.280 --> 0:01:00.000
<v Speaker 6>Critical fire re conditions, red flag warnings in effect untils

0:01:00.040 --> 0:01:03.440
<v Speaker 6>six pm Wednesday evening. Now by Wednesday evening Wednesday night,

0:01:03.520 --> 0:01:06.160
<v Speaker 6>I expect the critical conditions to diminish, and then for

0:01:06.280 --> 0:01:08.440
<v Speaker 6>Thursday into the weekend, we're actually get back to a

0:01:08.440 --> 0:01:11.440
<v Speaker 6>more normal weather powder here for this part of the country.

0:01:11.840 --> 0:01:14.320
<v Speaker 3>As it stands now, the biggest fire in the Palisades

0:01:14.360 --> 0:01:17.679
<v Speaker 3>is eighteen percent contained. The Eton Fire, which destroyed much

0:01:17.720 --> 0:01:20.959
<v Speaker 3>of Altadena, is under thirty five percent containment. The death

0:01:21.000 --> 0:01:24.520
<v Speaker 3>toll remains at twenty four Estimates of insured losses running

0:01:24.520 --> 0:01:27.440
<v Speaker 3>as high as forty billion dollars well Nathan.

0:01:27.480 --> 0:01:30.080
<v Speaker 2>The fires are also threatening to make the Los Angeles

0:01:30.120 --> 0:01:33.840
<v Speaker 2>housing crisis even worse. Before the fires, only about five

0:01:33.920 --> 0:01:36.920
<v Speaker 2>percent of LA apartments were vacant, with the median rent

0:01:37.240 --> 0:01:40.480
<v Speaker 2>of twenty two hundred ninety nine dollars. Now more than

0:01:40.520 --> 0:01:43.759
<v Speaker 2>twelve thousand buildings have been destroyed, many of them homes.

0:01:44.000 --> 0:01:47.560
<v Speaker 2>One rental company that manages some of LA's priciest neighborhood

0:01:47.640 --> 0:01:50.520
<v Speaker 2>says it's getting more than ten times as many calls

0:01:50.560 --> 0:01:53.520
<v Speaker 2>as it did before the fires. The firm recently arranged

0:01:53.560 --> 0:01:56.480
<v Speaker 2>a twelve month lease for one tenant in Beverly Hills

0:01:56.520 --> 0:01:59.800
<v Speaker 2>for thirty five thousand dollars. A month after the fires,

0:01:59.800 --> 0:02:02.240
<v Speaker 2>the owner raised the rent to forty thousand.

0:02:02.800 --> 0:02:04.760
<v Speaker 3>Now to the latest on efforts for a truce in

0:02:04.800 --> 0:02:07.640
<v Speaker 3>the Middle East, Israel and Hamas are now accusing one

0:02:07.680 --> 0:02:11.280
<v Speaker 3>another of delaying a Gaza ceasefire aimed at exchanging hostages

0:02:11.280 --> 0:02:14.640
<v Speaker 3>for prisoners and sending aid to the beleaguered Palestinian territory.

0:02:14.880 --> 0:02:17.320
<v Speaker 3>While officials say an agreement for a six week pause

0:02:17.320 --> 0:02:20.120
<v Speaker 3>in fighting is still likely soon, frequent failures to get

0:02:20.160 --> 0:02:24.200
<v Speaker 3>a deal finalized have left everyone saying nothing is being

0:02:24.200 --> 0:02:27.520
<v Speaker 3>taken for granted. CBS News previously reported that Israel and

0:02:27.520 --> 0:02:30.440
<v Speaker 3>Hamas have agreed in principle to a ceasefire at.

0:02:30.280 --> 0:02:31.079
<v Speaker 7>The Atlantic Council.

0:02:31.160 --> 0:02:34.000
<v Speaker 3>Secretary of State Anthony Blincoln said he thinks they're close.

0:02:34.600 --> 0:02:37.239
<v Speaker 8>I believe we will get a ceasefire, and whether we

0:02:37.320 --> 0:02:40.360
<v Speaker 8>get there in the remaining days of our administration or

0:02:40.440 --> 0:02:43.600
<v Speaker 8>after January twentieth, I believe the deal will follow closely

0:02:43.639 --> 0:02:45.639
<v Speaker 8>the terms of the agreement that President Biden put forward

0:02:45.680 --> 0:02:49.000
<v Speaker 8>last May, and our administration rallied the world behind.

0:02:49.440 --> 0:02:51.920
<v Speaker 3>Secretary Blincoln added, the sides are discussing a pause to

0:02:51.919 --> 0:02:54.440
<v Speaker 3>allow for the exchange of hostages and a boost in aid.

0:02:54.760 --> 0:02:57.280
<v Speaker 3>During the truce, Israel and Hamas will start a second,

0:02:57.440 --> 0:03:00.679
<v Speaker 3>more serious round of indirect negotiations about ending the war

0:03:00.919 --> 0:03:02.280
<v Speaker 3>and rebuilding the territory.

0:03:03.040 --> 0:03:06.720
<v Speaker 2>Meanwhile, Nathan and Washington President elect Donald Trump's pick for

0:03:06.880 --> 0:03:11.200
<v Speaker 2>Defense Secretary, Pete Hankseth, appears on course to win confirmation

0:03:11.639 --> 0:03:15.079
<v Speaker 2>after a half day Senate hearing. Bloomberg's Amy Morris is

0:03:15.080 --> 0:03:17.840
<v Speaker 2>in Washington and has more on the heated hearing.

0:03:18.280 --> 0:03:22.600
<v Speaker 9>New York Democratic Senator Kirsten Gillibrand questioned hag Seth's position

0:03:23.000 --> 0:03:24.400
<v Speaker 9>on women in the military.

0:03:24.760 --> 0:03:27.760
<v Speaker 2>You will have to change how you see women to

0:03:27.880 --> 0:03:29.600
<v Speaker 2>do this job well, and I don't know if you

0:03:29.639 --> 0:03:30.480
<v Speaker 2>are capable of that.

0:03:30.880 --> 0:03:34.760
<v Speaker 9>And Virginia Democratic Senator Tim Caine questioned hag Seth's character.

0:03:35.000 --> 0:03:37.960
<v Speaker 8>You had just fathered a child two months before by

0:03:37.960 --> 0:03:39.520
<v Speaker 8>a woman that was not your wife.

0:03:39.640 --> 0:03:43.920
<v Speaker 9>Senat Armed Services Committee chair, Republican Roger Wicker of Mississippi

0:03:44.160 --> 0:03:46.240
<v Speaker 9>showed his support for the nominee.

0:03:46.280 --> 0:03:49.200
<v Speaker 4>I'm confident that mister Hegseth, supported by a team of

0:03:49.240 --> 0:03:52.280
<v Speaker 4>experienced top officials, will get the job done.

0:03:52.440 --> 0:03:55.280
<v Speaker 9>Hag Seth himself laid out his objective for the Pentagon

0:03:55.440 --> 0:03:58.560
<v Speaker 9>if he's confirmed. When President Trump chose me for this position,

0:03:58.600 --> 0:04:01.080
<v Speaker 9>the primary charge he gave me was to bring the

0:04:01.160 --> 0:04:04.760
<v Speaker 9>warrior culture back to the Department of Defense. Hag Seth

0:04:04.880 --> 0:04:07.760
<v Speaker 9>does not need Democrats to win confirmation. But he can't

0:04:07.800 --> 0:04:11.120
<v Speaker 9>lose more than three Republicans in Washington. Amy Moore as

0:04:11.120 --> 0:04:12.240
<v Speaker 9>Bloomberg Radio.

0:04:12.320 --> 0:04:14.840
<v Speaker 3>Amy, thanks. Turning to the economy now, A day after

0:04:14.880 --> 0:04:18.520
<v Speaker 3>we learned US wholesale inflation unexpectedly cooled in December, we

0:04:18.560 --> 0:04:21.880
<v Speaker 3>get another reading this morning. Consumer prices are forecasts to

0:04:21.880 --> 0:04:24.960
<v Speaker 3>have risen four tenths of one percent last month. Let's

0:04:24.960 --> 0:04:27.000
<v Speaker 3>get a preview from Bloomberg's Michael McKee.

0:04:27.240 --> 0:04:30.200
<v Speaker 10>The change in the consumer price index usually doesn't match

0:04:30.279 --> 0:04:34.159
<v Speaker 10>the change in producer prices, so yesterday's surprisingly tame PPI

0:04:34.279 --> 0:04:37.480
<v Speaker 10>report probably tells us very little about what we'll see today.

0:04:38.080 --> 0:04:41.920
<v Speaker 10>Investors and Fed officials will be watching housing costs, in particular,

0:04:42.040 --> 0:04:45.800
<v Speaker 10>after housing inflation finally appeared to start cooling in November.

0:04:46.200 --> 0:04:49.440
<v Speaker 10>If that continues, it's good news for the inflation outlook.

0:04:49.640 --> 0:04:53.799
<v Speaker 10>Also under scrutiny used cars, food and energy, and airline fares.

0:04:54.160 --> 0:04:56.440
<v Speaker 10>Nothing but a huge miss high or low would get

0:04:56.440 --> 0:04:59.520
<v Speaker 10>Fed officials to consider changing their plan to hold rate

0:04:59.600 --> 0:05:02.919
<v Speaker 10>steady at their January meeting. Michael McKee, Bloomberg Radio.

0:05:03.160 --> 0:05:04.200
<v Speaker 2>All right, Michael, thank you.

0:05:04.240 --> 0:05:04.400
<v Speaker 5>Well.

0:05:04.400 --> 0:05:07.599
<v Speaker 2>On Wall Street, big bank earnings begin with Goldman Sachs

0:05:07.680 --> 0:05:11.360
<v Speaker 2>City Group JP Morgan Chase and Wells Fargo. This morning,

0:05:11.400 --> 0:05:13.919
<v Speaker 2>we get more on what to expect from Goldman with

0:05:13.960 --> 0:05:17.640
<v Speaker 2>Bloomberg Intelligence senior Global Banks analyst Allison Williams.

0:05:17.760 --> 0:05:22.880
<v Speaker 11>Ohman sachs they may post the strongest EPs growth compared

0:05:22.880 --> 0:05:26.680
<v Speaker 11>to a year ago, as well as Morgan Stanley. Both

0:05:26.720 --> 0:05:30.000
<v Speaker 11>of the banks are focused on the capital markets business,

0:05:30.400 --> 0:05:35.200
<v Speaker 11>but Goldman is also benefiting from a honed focus. Much

0:05:35.200 --> 0:05:37.760
<v Speaker 11>of the changes that they made last year have helped

0:05:37.760 --> 0:05:41.040
<v Speaker 11>them sort of return to their core institutional strength, and

0:05:41.080 --> 0:05:44.560
<v Speaker 11>we expect that they're going to show benefit from those

0:05:44.600 --> 0:05:48.200
<v Speaker 11>trends as well as momentum into the first quarter, especially

0:05:48.240 --> 0:05:51.880
<v Speaker 11>for their leading equities trading revenue as well as the

0:05:52.000 --> 0:05:52.839
<v Speaker 11>M and A business.

0:05:53.040 --> 0:05:57.080
<v Speaker 2>Bloomberg Intelligence Senior Global Banks analyst Allison Williams expects Goldman

0:05:57.160 --> 0:05:59.600
<v Speaker 2>earnings at seven thirty am Wall Street Time.

0:06:00.000 --> 0:06:02.800
<v Speaker 3>Well Karen Elon Musk is being sued by the Securities

0:06:02.839 --> 0:06:05.919
<v Speaker 3>and Exchange Commission. The agency is accusing Musk of failing

0:06:05.960 --> 0:06:09.560
<v Speaker 3>to timely disclose a major purchase of Twitter shares before

0:06:09.560 --> 0:06:12.240
<v Speaker 3>he took over the social media platform. We get more

0:06:12.240 --> 0:06:13.560
<v Speaker 3>from Bloomberg's Megan Howard.

0:06:13.920 --> 0:06:17.120
<v Speaker 1>The agency is alleging that Musk waited to disclose his

0:06:17.279 --> 0:06:20.080
<v Speaker 1>acquisition of Twitter shares in order to build his position

0:06:20.160 --> 0:06:24.480
<v Speaker 1>at lower prices. They are also saying that must deliberately

0:06:24.560 --> 0:06:27.560
<v Speaker 1>ignored a deadline to publicly disclose that he acquired more

0:06:27.560 --> 0:06:29.919
<v Speaker 1>than a five percent stake in the company early in

0:06:29.960 --> 0:06:32.279
<v Speaker 1>twenty twenty two, and this is actually something that he

0:06:32.320 --> 0:06:36.320
<v Speaker 1>had previewed in a letter last month. So the agency

0:06:36.320 --> 0:06:39.760
<v Speaker 1>has officially filed that lawsuit in federal court as of today.

0:06:39.920 --> 0:06:42.560
<v Speaker 3>And Bloomberg's Megan Howard says the SEC is seeking a

0:06:42.600 --> 0:06:45.640
<v Speaker 3>civil penalty and for Musk to return profits made from

0:06:45.720 --> 0:06:46.720
<v Speaker 3>his stock purchases.

0:06:47.200 --> 0:06:52.159
<v Speaker 2>Well. Nathan Elon musk Space company SpaceX has had another

0:06:52.400 --> 0:07:01.000
<v Speaker 2>landmark launch three two one Dignition and John go Hi Bay,

0:07:03.440 --> 0:07:06.000
<v Speaker 2>a Falcon nine rocket with a pair of commercial satellites

0:07:06.000 --> 0:07:08.720
<v Speaker 2>on board, took off from the Kennedy Space Center overnight.

0:07:08.760 --> 0:07:11.960
<v Speaker 2>Both the satellites are carrying lunar rovers heading into the

0:07:11.960 --> 0:07:15.920
<v Speaker 2>private sector moon race. One from Texas based Firefly Aerospace

0:07:16.040 --> 0:07:18.640
<v Speaker 2>is named Blue Ghost. It'll attempt at moon landing in

0:07:18.680 --> 0:07:22.239
<v Speaker 2>forty five days. The other is owned by Tokyo's Eye Space.

0:07:22.320 --> 0:07:25.320
<v Speaker 2>The Hakuto R probe will try for its second trip

0:07:25.360 --> 0:07:31.720
<v Speaker 2>to the Moon after a field attempt last April. Time

0:07:31.760 --> 0:07:33.200
<v Speaker 2>now for a look at some of the other stories

0:07:33.240 --> 0:07:35.040
<v Speaker 2>making news in New York and around the world. And

0:07:35.040 --> 0:07:38.520
<v Speaker 2>for that we're joined by Bloomberg's John Tucker. John, Good morning, Yeah, Good.

0:07:38.360 --> 0:07:41.960
<v Speaker 5>Morning, Karen. New York Governor Kathy Hochel proposing a middle

0:07:42.040 --> 0:07:44.640
<v Speaker 5>class tax cut. Let's get more in the story. This

0:07:44.640 --> 0:07:46.680
<v Speaker 5>morning from Bloomberg's Charlie pellan.

0:07:46.600 --> 0:07:49.400
<v Speaker 7>Word came in her State of the State address, focusing

0:07:49.440 --> 0:07:51.120
<v Speaker 7>on pocketbook concerns.

0:07:51.440 --> 0:07:55.000
<v Speaker 3>First, I'm calling for a sweeping middle class tax cut.

0:07:55.120 --> 0:07:57.440
<v Speaker 2>Benefiting eight point three million.

0:07:57.160 --> 0:08:00.160
<v Speaker 3>Taxpayers making less than three d and twenty three two

0:08:00.240 --> 0:08:01.240
<v Speaker 3>thousand dollars.

0:08:01.240 --> 0:08:04.880
<v Speaker 7>The speech outlined a range of proposals aimed at reducing

0:08:04.920 --> 0:08:07.560
<v Speaker 7>the cost of living in one of the most expensive

0:08:07.600 --> 0:08:12.560
<v Speaker 7>states while expanding social services and reducing crime in New York,

0:08:12.680 --> 0:08:14.960
<v Speaker 7>Charlie Bloomberg radios.

0:08:14.520 --> 0:08:17.560
<v Speaker 5>Were this morning that Russia launched a massive aerial attack

0:08:17.600 --> 0:08:21.320
<v Speaker 5>against Ukraine. The AP reports that force Ukraine to introduce

0:08:21.360 --> 0:08:24.840
<v Speaker 5>preventative power cuts in the middle of winter. South Korean

0:08:24.880 --> 0:08:28.760
<v Speaker 5>investigators arrested President yunsukiel today after launching a pre dawn

0:08:28.800 --> 0:08:32.200
<v Speaker 5>operation to bring the impeached leader in for questioning. This

0:08:32.320 --> 0:08:35.960
<v Speaker 5>comes over his short lived martial law declaration, and TikTok

0:08:36.040 --> 0:08:39.079
<v Speaker 5>reportedly plans has shut off its app for US users

0:08:39.120 --> 0:08:41.800
<v Speaker 5>on Sunday. That's the day it'll be banned unless the

0:08:41.960 --> 0:08:46.120
<v Speaker 5>Supreme Court intervenes. Where the enormity of the destruction in

0:08:46.160 --> 0:08:49.600
<v Speaker 5>southern California has quickly snuffed out all festiveness in the

0:08:49.600 --> 0:08:54.360
<v Speaker 5>movie industry's high season of celebration. The Oscars remain as scheduled,

0:08:54.400 --> 0:08:57.719
<v Speaker 5>but it's certain they'll be transformed due to the wildfires.

0:08:57.960 --> 0:09:01.040
<v Speaker 5>Some telethon like element also seems sure to accompany the

0:09:01.040 --> 0:09:04.360
<v Speaker 5>Oscars In recent days, many throughout the industry a voice

0:09:04.360 --> 0:09:08.839
<v Speaker 5>suggestions for how that broadcast could be reconsidered. Global news

0:09:08.880 --> 0:09:10.720
<v Speaker 5>twenty four hours a day, whenever you want it with

0:09:10.800 --> 0:09:11.600
<v Speaker 5>Bloomberg News.

0:09:11.600 --> 0:09:11.760
<v Speaker 1>Now.

0:09:11.800 --> 0:09:13.840
<v Speaker 5>I'm John Tucker and this is Bloomberg.

0:09:13.960 --> 0:09:14.240
<v Speaker 7>Karen.

0:09:14.480 --> 0:09:21.280
<v Speaker 2>All right, John Tucker, thank you time now for the

0:09:21.280 --> 0:09:24.000
<v Speaker 2>Bloomberg Sports Update, brought to you by Tri State Outie.

0:09:24.040 --> 0:09:26.160
<v Speaker 2>Here's John Stashaur, John, Good morning.

0:09:25.920 --> 0:09:26.600
<v Speaker 7>Good morning, Karen.

0:09:26.640 --> 0:09:29.600
<v Speaker 12>It was forty years ago that Saint John's and Georgetown

0:09:29.640 --> 0:09:32.079
<v Speaker 12>played at the Garden, one of the most hyped college

0:09:32.120 --> 0:09:34.520
<v Speaker 12>basketball games ever. They were ranked one two in the country.

0:09:34.559 --> 0:09:37.680
<v Speaker 12>The Hoyas won that game. They'd hardly won the previous

0:09:37.720 --> 0:09:40.920
<v Speaker 12>three seasons, a Big East record of four and fifty eight,

0:09:40.960 --> 0:09:44.080
<v Speaker 12>but they're much better this season and at MSG Georgetown

0:09:44.120 --> 0:09:46.320
<v Speaker 12>had a fourteen point lead early in the second half,

0:09:46.320 --> 0:09:49.679
<v Speaker 12>Saint John's responded a nineteen to two run to win

0:09:49.800 --> 0:09:52.400
<v Speaker 12>sixty three point fifty eight. Coach of the Red Storm,

0:09:52.480 --> 0:09:54.360
<v Speaker 12>Rick Patino was on NBC for you.

0:09:54.360 --> 0:09:56.560
<v Speaker 4>Don't have a great night, they come back and win.

0:09:57.080 --> 0:09:59.559
<v Speaker 4>It tells you who you are and what you're all about.

0:10:00.160 --> 0:10:03.240
<v Speaker 4>And these guys were about winning and that's all that counts.

0:10:03.480 --> 0:10:05.319
<v Speaker 4>They came out and said, don't worry about it. We're

0:10:05.360 --> 0:10:07.240
<v Speaker 4>gonna get a single digits, will win this game.

0:10:07.280 --> 0:10:09.600
<v Speaker 12>And see John's now fifteen and three, six and one

0:10:09.600 --> 0:10:11.520
<v Speaker 12>of the Big East. Auburn's ranked number one, which is

0:10:11.559 --> 0:10:14.199
<v Speaker 12>the second time ever Tigers meet Mississippi State. By twenty two,

0:10:14.640 --> 0:10:17.920
<v Speaker 12>they're sixteen and one. Third ranked. Duke now seventeen and two,

0:10:18.080 --> 0:10:20.679
<v Speaker 12>beat Miami by thirty five the Nets, but just their

0:10:20.760 --> 0:10:23.240
<v Speaker 12>fifth win since November one, thirty two to one to

0:10:23.280 --> 0:10:25.800
<v Speaker 12>fourteen in Portland. Nick's play tonight in Philadelphia. They may

0:10:25.840 --> 0:10:28.480
<v Speaker 12>be without Karl Anthony Towns. He hurt his thumb in

0:10:28.520 --> 0:10:31.000
<v Speaker 12>the game. This past Monday, all three New York hockey

0:10:31.000 --> 0:10:34.320
<v Speaker 12>teams lost. Rangers at Colorado three two in overtime. The

0:10:34.320 --> 0:10:37.040
<v Speaker 12>Acid tie the game of the minute. Thirteen left Islanders

0:10:37.080 --> 0:10:39.080
<v Speaker 12>got shut out by Ottawa two nothing. The Devil's lost

0:10:39.080 --> 0:10:41.080
<v Speaker 12>to Florida two to one in the shootout. First place

0:10:41.160 --> 0:10:44.480
<v Speaker 12>Capitals three nothing went over. Anaheim Bruins beat Tampa Bay

0:10:44.520 --> 0:10:46.920
<v Speaker 12>six to two. Round to the Australian Open saw a

0:10:47.040 --> 0:10:49.960
<v Speaker 12>second straight four set victory for the ten time champion

0:10:50.040 --> 0:10:53.840
<v Speaker 12>Novak Djocovis. Carlos Alca has lost only five games straight

0:10:53.880 --> 0:10:56.160
<v Speaker 12>set wins for the women's top seed, Arena Sablanca as

0:10:56.200 --> 0:10:59.000
<v Speaker 12>well as Jess Pagoula and Coco Got. The second week

0:10:59.040 --> 0:11:02.520
<v Speaker 12>of TGL That's Tomorrow's Golf League played indoors, some real,

0:11:02.600 --> 0:11:05.360
<v Speaker 12>some simulated. Tiger Woods one of the founders, and he

0:11:05.480 --> 0:11:08.120
<v Speaker 12>played not all that well. Tiger's team lost the fifty

0:11:08.160 --> 0:11:12.319
<v Speaker 12>hole match twelve to one. Johns Dashieller, Bloomberg Sports Karen Nathan.

0:11:14.440 --> 0:11:18.439
<v Speaker 4>Coast to Coast on Bloomberg Radio, nationwide on Sirius.

0:11:18.240 --> 0:11:21.440
<v Speaker 3>XM, and around the world on Bloomberg dot Com and

0:11:21.480 --> 0:11:22.800
<v Speaker 3>the Bloomberg Business app.

0:11:23.120 --> 0:11:24.679
<v Speaker 9>This is Bloomberg Daybreak.

0:11:24.840 --> 0:11:27.839
<v Speaker 3>Good morning, I'm Nathan Hager. Another morning with little led

0:11:27.920 --> 0:11:30.280
<v Speaker 3>up to the dangerous weather that has fueled the Los

0:11:30.320 --> 0:11:33.280
<v Speaker 3>Angeles wildfires for more than a week. Now, even more

0:11:33.400 --> 0:11:36.280
<v Speaker 3>challenging conditions are in the forecast for today and the

0:11:36.320 --> 0:11:38.840
<v Speaker 3>warning from La Mayor Karen Bass.

0:11:39.280 --> 0:11:41.640
<v Speaker 4>We are not out of this crisis yet.

0:11:41.840 --> 0:11:44.880
<v Speaker 1>We still have another twenty four to forty eight hours

0:11:45.080 --> 0:11:47.720
<v Speaker 1>and so Angelino's please be safe.

0:11:48.000 --> 0:11:50.880
<v Speaker 3>Joining us now for the update Bloomberg News Senior editor

0:11:50.920 --> 0:11:54.040
<v Speaker 3>Bill Ferries. So, Bill, where do things stand now? What

0:11:54.120 --> 0:11:56.080
<v Speaker 3>kind of conditions are we expecting today?

0:11:56.120 --> 0:11:58.800
<v Speaker 7>Good morning, Good morning, Nathan.

0:11:58.840 --> 0:12:02.400
<v Speaker 13>Yeah, there's really been no reprieve for residents of Los Angeles,

0:12:02.400 --> 0:12:06.280
<v Speaker 13>southern California or the firefighters out still battling these blazes.

0:12:07.040 --> 0:12:10.040
<v Speaker 13>With those Santa Ana wins continuing to gust up to

0:12:10.160 --> 0:12:11.280
<v Speaker 13>sixty miles an hour.

0:12:11.880 --> 0:12:12.439
<v Speaker 7>There were some.

0:12:12.520 --> 0:12:17.480
<v Speaker 13>New fires that started over the last day. Firefighters were

0:12:17.559 --> 0:12:21.520
<v Speaker 13>largely able to contain or extinguish those. But when you're

0:12:21.520 --> 0:12:24.200
<v Speaker 13>talking about the two main fires, they eat and fire

0:12:24.559 --> 0:12:28.160
<v Speaker 13>that's only thirty five percent contained still, and the Palisades

0:12:28.200 --> 0:12:32.160
<v Speaker 13>fire even in worse shape eighteen percent contained, so a

0:12:32.160 --> 0:12:35.199
<v Speaker 13>lot of work still ahead. There is some hope that

0:12:35.640 --> 0:12:39.440
<v Speaker 13>humidity levels at least will be picking up later in

0:12:39.480 --> 0:12:42.160
<v Speaker 13>the week and maybe the winds dying down a little bit.

0:12:42.240 --> 0:12:47.319
<v Speaker 13>That's important in terms of helping the vegetation not become

0:12:47.440 --> 0:12:50.800
<v Speaker 13>quite as dry. But there are already some concerns about

0:12:50.840 --> 0:12:53.200
<v Speaker 13>weather winds might be picking up about a week from

0:12:53.200 --> 0:12:57.600
<v Speaker 13>now when the weather conditions shift again. So still very

0:12:57.600 --> 0:13:02.000
<v Speaker 13>tough time. You've got eighty eighty eight thousand residents under

0:13:02.000 --> 0:13:06.480
<v Speaker 13>evacuation orders and two million people in that region facing

0:13:06.520 --> 0:13:07.839
<v Speaker 13>extreme fire conditions.

0:13:08.240 --> 0:13:11.319
<v Speaker 3>Wow, and it sounds as though the resources that are

0:13:11.320 --> 0:13:15.560
<v Speaker 3>being put to bear against these fires are really overwhelming

0:13:15.679 --> 0:13:19.479
<v Speaker 3>now firefighters from as far away as Mexico and Canada.

0:13:19.559 --> 0:13:23.240
<v Speaker 3>Is there still a question about whether there's enough resources

0:13:23.280 --> 0:13:23.760
<v Speaker 3>going into this.

0:13:25.720 --> 0:13:29.520
<v Speaker 13>It seems an issue of the resources than just the

0:13:29.559 --> 0:13:32.360
<v Speaker 13>scale of the of what they're facing at this point.

0:13:32.960 --> 0:13:36.280
<v Speaker 13>It's you know, it's really the conditions are really not

0:13:37.880 --> 0:13:41.160
<v Speaker 13>favorable to the firefighters at this point. It haven't been.

0:13:41.240 --> 0:13:45.199
<v Speaker 13>You have these strong winds continuing to blow. Those can

0:13:45.280 --> 0:13:50.320
<v Speaker 13>really fueling those fires and keep them kind of moving along.

0:13:50.559 --> 0:13:54.640
<v Speaker 13>So it's less it seems less an issue with the resources,

0:13:54.679 --> 0:13:59.000
<v Speaker 13>whether it's personnel or water, than just the kind of

0:13:59.080 --> 0:14:03.920
<v Speaker 13>the huge, the huge conditions that they are up against

0:14:03.960 --> 0:14:05.360
<v Speaker 13>at this point.

0:14:05.160 --> 0:14:07.400
<v Speaker 3>Just as shift gears. Another major story I know you're

0:14:07.480 --> 0:14:12.000
<v Speaker 3>following is this Securities and Exchange Commission lawsuit that Elon

0:14:12.120 --> 0:14:16.079
<v Speaker 3>Musk is now facing over his disclosures ahead of the

0:14:16.360 --> 0:14:20.560
<v Speaker 3>Twitter buyout. Is this the kind of case that we

0:14:20.560 --> 0:14:24.040
<v Speaker 3>were expecting the SEC to make against Musk, given that

0:14:24.080 --> 0:14:26.560
<v Speaker 3>he's really been under scrutiny for quite some time now.

0:14:27.720 --> 0:14:27.920
<v Speaker 7>Yeah.

0:14:28.000 --> 0:14:30.640
<v Speaker 13>I mean, Musk did provide a hint of this in

0:14:30.680 --> 0:14:35.120
<v Speaker 13>December when he released a letter he had received from

0:14:35.160 --> 0:14:38.160
<v Speaker 13>the SEC. It's really hard to know whether this is

0:14:38.440 --> 0:14:42.040
<v Speaker 13>kind of more of a symbolic parting shot by the

0:14:42.080 --> 0:14:47.680
<v Speaker 13>outgoing Bided administration and the SEC chief, or whether it

0:14:47.680 --> 0:14:49.720
<v Speaker 13>will really have an impact. I mean, the crux of

0:14:49.760 --> 0:14:53.960
<v Speaker 13>their argument is that Musk, when he was he passed

0:14:53.960 --> 0:14:57.840
<v Speaker 13>this five percent ownership threshold in Twitter in late March

0:14:57.880 --> 0:15:02.000
<v Speaker 13>twenty twenty two, that he did not let the public

0:15:02.080 --> 0:15:05.360
<v Speaker 13>let investors know as quickly as he should have that

0:15:05.480 --> 0:15:10.560
<v Speaker 13>he was becoming a large stakeholder in the company in

0:15:10.640 --> 0:15:13.880
<v Speaker 13>that time. When that information wasn't public, he continued to

0:15:13.880 --> 0:15:17.240
<v Speaker 13>buy hundreds of millions of dollars in shares. If investors

0:15:17.240 --> 0:15:20.480
<v Speaker 13>had known Elon Musk was there doing that, they probably

0:15:20.480 --> 0:15:23.200
<v Speaker 13>would have gotten a higher price. That's what the SEC

0:15:23.280 --> 0:15:25.800
<v Speaker 13>is saying, that investors were built of about one hundred

0:15:25.800 --> 0:15:28.880
<v Speaker 13>and fifty million dollars. But whether that case is something

0:15:28.920 --> 0:15:31.640
<v Speaker 13>that goes forward in the next administration when you have

0:15:31.680 --> 0:15:33.840
<v Speaker 13>a new SEC share, that's something we're going to have

0:15:33.840 --> 0:15:34.680
<v Speaker 13>to wait and find out.

0:15:34.960 --> 0:15:37.920
<v Speaker 2>This is Bloomberg Day Break, your morning podcast on the

0:15:38.000 --> 0:15:41.480
<v Speaker 2>stories making news from Wall Street to Washington and beyond.

0:15:41.760 --> 0:15:44.160
<v Speaker 3>Look for us on your podcast feed by six am

0:15:44.200 --> 0:15:47.560
<v Speaker 3>Eastern each morning, on Apple, Spotify, or anywhere else you listen.

0:15:47.800 --> 0:15:50.640
<v Speaker 2>You can also listen live each morning starting at five

0:15:50.680 --> 0:15:53.400
<v Speaker 2>am Wall Street time on Bloomberg eleven three to zero

0:15:53.400 --> 0:15:56.320
<v Speaker 2>in New York, Bloomberg ninety nine to one in Washington,

0:15:56.360 --> 0:15:59.920
<v Speaker 2>Bloomberg ninety two nine in Boston, and nationwide on Seri

0:16:00.520 --> 0:16:02.080
<v Speaker 2>XM Channel one twenty one.

0:16:02.480 --> 0:16:05.200
<v Speaker 3>Plus listen coast to coast on the Bloomberg Business app

0:16:05.240 --> 0:16:08.440
<v Speaker 3>now with Apple CarPlay and Android auto interfaces, and.

0:16:08.400 --> 0:16:11.360
<v Speaker 2>Don't forget to subscribe to Bloomberg News Now. It's the

0:16:11.440 --> 0:16:14.600
<v Speaker 2>latest news, whenever you want it in five minutes or less.

0:16:14.840 --> 0:16:17.920
<v Speaker 2>Search Bloomberg News Now on your favorite podcast platform to

0:16:17.960 --> 0:16:21.520
<v Speaker 2>stay informed all day long. I'm Karen Moscow.

0:16:21.240 --> 0:16:23.760
<v Speaker 3>And I'm Nathan Hager. Join us again tomorrow morning for

0:16:23.840 --> 0:16:25.760
<v Speaker 3>all the news you need to start your day right

0:16:25.760 --> 0:16:27.240
<v Speaker 3>here on Bloomberg debray