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

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Speaker 1: in Calagie. A federal judge in Los Angeles issued a

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Speaker 1: temporary order barring US immigration authorities from stopping people for

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Speaker 1: questioning without cause, the latest fallout from the Trump administration's

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Speaker 1: controversial crackdown on migrants in California and across the US.

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Speaker 1: The US barred agents in the Los Angeles area from

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Speaker 1: stopping and questioning individuals without reasonable suspicion that they're in

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Speaker 1: the US illegally. The order forbids the agents from basing

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Speaker 1: their suspicion on race, ethnicity, speaking Spanish, speaking English with

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Speaker 1: an accent, the type of work they do, or where

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Speaker 1: they are located. The White House did not immediately respond

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Speaker 1: to a request for comments. Craft Hines is preparing to

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Speaker 1: break itself up. Under the plan, the company could spin

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Speaker 1: off a large part of its grocery business into a

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Speaker 1: new entity. This would allow it to focus on faster

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Speaker 1: growing segments such as sauces. Craft Hines is still finalizing

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Speaker 1: details of the split, which could be announced in the

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Speaker 1: coming weeks. Shares of craft Hines closed up two and

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Speaker 1: a half percent Friday. The Wall Street Journal reported on

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Speaker 1: the plans earlier in the day, a down Friday, and

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Speaker 1: a weekly move lower for the US stock market. We

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Speaker 1: get more from Bloomberg's Charlie Pellett.

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Speaker 2: For the week, the SMP five hundred index was down

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Speaker 2: three tenths of a percent, holding close to a record.

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Speaker 2: So far this year, the sm P five hundred is

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Speaker 2: up six point four percent, following a rally that drove

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Speaker 2: the SMP to its fifth record in nine trading days.

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Speaker 2: Equity bulls took a breather, stocks fell as President Trump

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Speaker 2: intensified his trade offensive. For the week, NESDAK was down

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Speaker 2: one tenth of one percent, while the Dow this week

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Speaker 2: was down one percent. In New York Charlie Pellett Bloomberg Radio.

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Speaker 1: President Trump said it was hard to believe the devastation

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Speaker 1: as he visited Texas to see firsthand the damage from

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Speaker 1: extreme floods that killed at least one hundred twenty people

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Speaker 1: and left score still missing in the state's Hill Country region.

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Speaker 1: The president spoke after touring some of the hardest hit areas.

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Speaker 3: All across the country. American's hearts isha, I had to

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Speaker 3: be here as president first lady who wanted to be here.

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Speaker 3: All the beautiful souls and We're filled with grief and devastation.

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Speaker 1: The President then praised the response of FEMA.

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Speaker 3: FEMA has deployed multiple emergency response units, and FEMA has

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Speaker 3: been really headed by some very good people. We have

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Speaker 3: some good people running FEM. It's about time, right we

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Speaker 3: get some good ones. They failed us in North Carolina,

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Speaker 3: but when we got in in January twentieth, they fixed

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Speaker 3: it up in no time.

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Speaker 1: Trump's visit was aimed at reassuring residents that the federal

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Speaker 1: government was committing the resources needed for search and recovery

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Speaker 1: operations and to help rebuild communities ravaged by the floods.

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Speaker 1: Cars and tariff levels on agriculture have emerged as key

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Speaker 1: sticking points between the European Union and the USS. The

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Speaker 1: two sides worked toward a provisional trade agreement in the

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Speaker 1: coming days. The EU is seeking a tariff no higher

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Speaker 1: than ten percent on agricultural exports. An offset mechanism that

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Speaker 1: some carmakers had pushed US away to grand tariff for

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Speaker 1: relief two companies in return for investments in the US

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Speaker 1: is not under consideration for now, amid worries from the

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Speaker 1: EU would could shift production across the Atlantic. The blocks

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Speaker 1: negotiators are focusing talks on car tariffs instead, the US

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Speaker 1: is working toward an interim trade deal with India that

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Speaker 1: may reduce its proposed tariffs to below twenty percent, putting

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Speaker 1: the South Asian nation in a favorable position against its

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Speaker 1: peers in the region. India does not expect to receive

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Speaker 1: a tariff demand letter unlike many others, this week, and

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Speaker 1: anticipates the trade arrangement will be announced through a statement.

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Speaker 1: The interim deal would allow for continued talks, giving New

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Speaker 1: Delhi space to resolve outstanding issues ahead of a broader

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Speaker 1: agreement expected this fall. Peter Navarro, White House Senior Council

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Speaker 1: for Trade and Manufacturing, talked with Joe Matthew and Keyley

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Speaker 1: Lines on balance of power and call the trade deficit

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Speaker 1: a national emergency.

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Speaker 4: But the problem, Kiley, that this country faces, and it

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Speaker 4: is an urgent national emergency, is we run this massive

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Speaker 4: trade difference, said every year. Ancumulately has been eighteen trillion

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Speaker 4: dollars of deficits over the last several decades, and that

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Speaker 4: represents the transfer of for wealth abroad. It represents transferver

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Speaker 4: factories and our jobs.

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Speaker 1: Whitehouse, Senior Council for Trade and Manufacturing Peter Navarro. A

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Speaker 1: preliminary report found the Air India Gentliner that crashed June twelfth,

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Speaker 1: almost immediately after taking off, plummeted back to the ground

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Speaker 1: after fuel supply was cut off to both engines, and

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Speaker 1: the pilots failed to bring back power in time to

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Speaker 1: avert the catastrophe. The report, issued a month after the

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Speaker 1: accident that killed all but one of the two hundred

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Speaker 1: and forty two occupants of the Boeing seven eighty seven Dreamliner,

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Speaker 1: laid out the faithful final seconds before the plane crashed.

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Speaker 1: According to a chronology laid out in the report, the

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Speaker 1: fuel switches off both engines were moved to the cutoff

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Speaker 1: position almost immediately after takeoff. It's unclear what prompted that maneuver.

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Speaker 1: According to the report, one unidentified pilot asked the other

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Speaker 1: why he had cut off the fuel, which he denied.

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Speaker 1: As for a transcript of the cockpit voice recording, The

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Speaker 1: Friday number is on Wall Street DAL LOST two seventy nine,

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Speaker 1: NASDAQ felve forty five. The S and P drop twenty.

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Speaker 1: The ten year treasurer yield is at four point four

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Speaker 1: one percent, the two year at three point eight nine percent.

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Speaker 1: That's news when you want it, with Bloomberg News. Now

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Speaker 1: I'm in Kalleggi. This is Bloomberg