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

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Speaker 1: Doug Prisner. Today in Hong Kong, the government is putting

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Speaker 1: its number one national security target on trial. He is

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Speaker 1: Jimmy Lai, the founder of Hong Kong's most popular tabloid,

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Speaker 1: Apple Daily. Lie has already spent more than a thousand

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Speaker 1: days in prison, and he could spend the rest of

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Speaker 1: his life behind bars if convicted of these national security crimes.

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Speaker 1: Here is Bloomberg's Jenny Marsh.

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Speaker 2: He had connections to sort of top leaders in DC,

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Speaker 2: particularly joined the Trump era. He was often sort of

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Speaker 2: meeting with people who are really informing the US president's decision.

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Speaker 2: So he was just this sort of unique threat in

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Speaker 2: terms of the way he could influence public opinion here,

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Speaker 2: and once they passed the security law, they have thrown

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Speaker 2: the full weight of it at him.

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Speaker 1: That is Bloomberg's Jenny Marsh. Now, the US, the UK,

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Speaker 1: and Canadian lawmakers have raised concern over the Lie case.

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Speaker 1: Any conviction of Lie does risk further inflaming ties between

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Speaker 1: China on one hand, and the US and the UK

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Speaker 1: on the other. This trial, by the way, is slated

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Speaker 1: to last three months. North Korea fired an intercontinental ballistic

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Speaker 1: missile toward waters off its east coast. This is a

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Speaker 1: show of force after the US and South Korea held

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Speaker 1: talks on containing Pyongyang's atomic ambitions. This would be North

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Speaker 1: Korea's fifth ICBM test this year. The class of missile

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Speaker 1: is the most powerful in North Korea's arsenal and designed

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Speaker 1: to deliver a nuclear warhead to the US mainland. Support

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Speaker 1: for Japanese Prime Minister Fumyo Kishida has fallen into fresh lows.

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Speaker 1: This is according to polls taken after Kishida reshuffled his

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Speaker 1: cabinet to contain a funding scandal. Here is Bloomberg's Isabelle Reynolds.

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Speaker 3: What he was trying to do is oust four ministers

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Speaker 3: who are suspective of involvement in this slush fund scandal

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Speaker 3: where they didn't record funds that they had received as

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Speaker 3: donations from their factions. So he got rid of them

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Speaker 3: on Thursday. The polls over the weekend, so that really

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Speaker 3: hasn't had the effect that he probably was hoping for.

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Speaker 3: Support has fall into fresh lows, and one of them

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Speaker 3: has actually recorded Disapproval has risen to the highest ever

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Speaker 3: in that series of polls, which goes back to nineteen

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Speaker 3: forty seven. I mean, it's not a figure that you

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Speaker 3: see very often. It's obviously a very disappointing state of

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Speaker 3: affairs for Kishida.

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Speaker 1: That is Bloomberg's Isabelle Reynolds. Israel is pushing back on

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Speaker 1: increasing calls from European leaders for a ceasefire. Here's Bloomberg's

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Speaker 1: Bill Ferries.

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Speaker 4: Politically, Prime Minister net Yahoo under increasing buyer domestically because

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Speaker 4: of the apparent killing of those three hostages killed by

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Speaker 4: Idea forces. That's kind of raised the issue again about

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Speaker 4: the situation of the more than one hundred and twenty

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Speaker 4: five hostages still being held. You have Secretaria Pentagon, Secretary

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Speaker 4: Lloyd Austen in the region expected in Israel possibly today

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Speaker 4: raising those same issues. So certainly on all fronts, I

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Speaker 4: think the Israeli government finding itself under an increasing amount

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Speaker 4: of pressure to have come to another temporary cease fire.

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Speaker 1: That is Bloomberg's Bill Ferries. We go to the White

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Speaker 1: House next and condemnation for the remarks made by Donald

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Speaker 1: Trump over the weekend on immigration. Here's Bloomberg said Baxter.

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Speaker 5: The White House says they are an American. The statement says,

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Speaker 5: echoing the grotesque rhetoric of fascists and violent white supremacist.

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Speaker 5: Trump was trying to rally his base around the issue

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Speaker 5: of immigration.

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Speaker 4: They're poisoning the blood of our country, that's what.

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Speaker 5: They've done, saying they're coming in from all over the world,

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Speaker 5: from Africa, from Asia, all over the world. They're pouring

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Speaker 5: into our country now. The White House says clear oppression

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Speaker 5: and a threat to democracy, and Trump rival Chris Christy

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Speaker 5: on CBS has heard on Bloomberg.

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Speaker 6: I don't know how you could take someone like that

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Speaker 6: and say that they're fit to be president of the

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Speaker 6: United States.

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Speaker 5: Trump continues to hold a massive lead in the polls

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Speaker 5: of the GOP ed Baxter Bloomberg.

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Speaker 1: Radio FED officials are pushing back against the notion of

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Speaker 1: aggressive rate cuts in the new year. The head of

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Speaker 1: the Chicago FED, Austin Goulesby, says it's too early for

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Speaker 1: the Fed to declare victory and its fight against inflation,

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Speaker 1: and he said decisions on cuts will be based on

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Speaker 1: incoming data. Goulesby has been one of the more optimistic

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Speaker 1: policymakers about the prospects of a soft landing for the

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Speaker 1: American economy. He says there has been progress on fighting inflation,

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Speaker 1: but the FED is still far from its two percent goal.

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Speaker 1: Here's Goulesby speaking on CBS face the nation. We're still

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Speaker 1: above the target. We got to get inflation down to

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Speaker 1: target and tell we're convinced that we're on path to that.

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Speaker 1: It's an overstatement to be counting the chickens, that is

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Speaker 1: Chicago President Austin Goulsby of the Federal Reserve. We go

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Speaker 1: to China next, where the government has accelerated its ban

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Speaker 1: on iPhones and other devices. Here's Bloomberg's and Kates.

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Speaker 6: More Chinese agencies and government backed firms across at least

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Speaker 6: eight provinces have ordered staff to stop bringing iPhones and

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Speaker 6: other foreign devices to work. It sets in motion and

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Speaker 6: precedented prohibition that is likely to block Apple and Samsung

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Speaker 6: from parts of the world's biggest mobile phone market. The

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Speaker 6: effort marks a dramatic escalation of Beijing's campaign to wean

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Speaker 6: itself off American technology, coinciding with the resurgent popularity of

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Speaker 6: homegrown brand Huawei. The edict also threatens to deal a

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Speaker 6: direct hit to Apple's market share in Washington and Kate's

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Speaker 6: Bloomberg Radio.

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Speaker 1: And that is news when you want it With Bloomberg News.

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Speaker 1: Now I'm Doug Chrisner, and this is Bloomberg