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Speaker 1: Good morning.

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Speaker 2: I'm Brian Curtiz and I'm Vonnie Quinn. Here are the

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Speaker 2: stories we're following today.

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Speaker 3: In terms of the market action, Asian equity futures are

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Speaker 3: moving lower this morning. Volatility in the bond market really

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Speaker 3: rattled investors to a degree. A huge drop in tenure

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Speaker 3: yields from the five percent level had investors scratching their heads.

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Speaker 3: Is that positive for risk assets or negative? Given all

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Speaker 3: the reasons for the volatility and for the drop, Bill

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Speaker 3: Ackman said he was unwinding his short position in treasury,

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Speaker 3: saying there's simply too much risk out there in markets.

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Speaker 3: The yield on the tenure dropped about eighteen basis points

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Speaker 3: intraday before edging back up a little. And we'll get

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Speaker 3: to all the numbers in a moment. The S and

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Speaker 3: P five hundred closed at its lowest since May, but

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Speaker 3: down just two tenths of a percent on a wild ride.

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Speaker 3: The NASTAC held onto gains but finished off the best

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Speaker 3: levels of the day. The S and P held above

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Speaker 3: the key forty two hundred mark that has been a

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Speaker 3: technical support level and represents a fifty percent replacement of

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Speaker 3: the rally from the lows that we had back in

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Speaker 3: March during the banking turmoil. Now it's time for Global News.

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Speaker 3: AMAS says it has released two more hostages. Doug Krisner

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Speaker 3: has Global News from New York.

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Speaker 4: Yeah, Brian. Both of these hostages or elderly women. Egyptian

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Speaker 4: media reporting that the women reached the Rafa border crossing

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Speaker 4: after being released due to efforts by Egypt. Now Israeli

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Speaker 4: stayed owned television confirms these releases. Meantime, Israel's military carried

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Speaker 4: out strikes on Gaza today and made targeted raids inside

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Speaker 4: the territory. However, the Israelis have apparently held off on

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Speaker 4: a broader ground invasion as efforts continue to free those hostages.

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Speaker 4: There are reports of another release possibly being in the works.

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Speaker 4: At the same time, the National Security Council spokesman John

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Speaker 4: Kirby was saying today the White House is working around

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Speaker 4: the clock to release all US hostages.

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Speaker 5: At the direction of President Biden. The Secretary of Defense

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Speaker 5: has ordered the military to take steps to prepare for this,

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Speaker 5: to ensure that we're postured appropriately both in terms of

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Speaker 5: being able to defend our forces and respond decisively as needed.

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Speaker 4: That is John Kirby from the National Security Council Meantime,

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Speaker 4: President Biden says a ceasefire in Gaza can be discussed

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Speaker 4: only after hostages are released. Gaza militants are holding over

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Speaker 4: two hundred hostages, the State Department said earlier. Some of

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Speaker 4: the ten Americans remain unaccounted for and are among those

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Speaker 4: held in captivity. Bloomberg Opinion editor Bobby Gosch says Israel

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Speaker 4: is not only dealing with the hostages, but humanitarian concerns

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Speaker 4: and public opinion.

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Speaker 6: There's a lot of pressure on Israelis to hold off,

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Speaker 6: to restrain themselves from the United States primarily, but from

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Speaker 6: the wide world. I would say cautioning against the ground.

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Speaker 4: Invasion that is Bloomberg's Bobby Gosch. Meantime, the Pentagon has

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Speaker 4: sent military advisors into Israel. This includes a Marine Corps

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Speaker 4: general versed in urban warfare. Now the US is also

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Speaker 4: speeding multiple sophisticated air defense systems to the Mideast, days

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Speaker 4: ahead of an anticipated ground assault into Gaza. Well, it's

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Speaker 4: been twenty days since the US House has had a speaker.

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Speaker 4: Nine Republicans have put their names forward for the job,

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Speaker 4: none as a clear shot. The senior most is Representative

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Speaker 4: Tom Emmer of Minnesota. The gop whip. Now at six

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Speaker 4: thirty pm tonight, Wall Street Time House Republicans will be

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Speaker 4: meeting behind closed doors to hear from these candidates. Internal

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Speaker 4: party voting will determine a nominee. An off duty pilot

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Speaker 4: for Alaska Air Group has been charged with eighty three

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Speaker 4: counts of attempted murder. He was riding as a passenger

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Speaker 4: in the cockpit jump seat and allegedly try to shut

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Speaker 4: off power to the aircraft's engines mid flight. Now, this

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Speaker 4: flight took off from the Seattle area on Sunday bound

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Speaker 4: for San Francisco. Here is part of the plane cruise

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Speaker 4: communication with air traffic control.

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Speaker 7: Oh, we've got the occupants. He's handcuffed and he's an

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Speaker 7: alf back jump seat. When law enforcements arrives, and right

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Speaker 7: now he's the saying calm.

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Speaker 4: That aircraft was diverted to Portland, Oregon, where the suspect

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Speaker 4: was taken into custody. Global News twenty four hours a

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Speaker 4: day and whenever you want it with Bloomberg News. Now,

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Speaker 4: I'm Doug Prisner. This is Bloomberg Brian.

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Speaker 3: Thanks very much, Doug, im Brian Curtis along with Ronnie Quinn.

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Speaker 3: Let's take a look at some of the top business

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Speaker 3: stories of the hour. As mentioned in Nvidia, according to

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Speaker 3: our sources, as using Arm Holdings technology to develop chips

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Speaker 3: that would challenge Intel, would challenge challenge Intel's processors in

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Speaker 3: personal computers.

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Speaker 1: We get the story from Bloomberg's Charlie Pellett.

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Speaker 8: It ranchets up competition between the two semiconductor makers. Those

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Speaker 8: sources say in Nvidia, whose artificial intelligence accelerator chips already

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Speaker 8: dominate that market, is attempting to make central processing units

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Speaker 8: for PCs. The CPUs would run Microsoft's Windows operating system

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Speaker 8: and go on sale as soon as twenty twenty five

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Speaker 8: in New York Charlie Pellett, Bloomberg Radio.

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Speaker 3: So, as mentioned, we did have a big jump in

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Speaker 3: Nvidio stock, up three point eight percent. Intel went the

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Speaker 3: other direction, as this challenges its business. Although there's nothing

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Speaker 3: nothing really stopping Intel from getting into this as well,

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Speaker 3: but down or more into it, down three point one percent,

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Speaker 3: and Armholdings the biggest beneficiary with the gain of four

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Speaker 3: point nine percent.

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Speaker 2: Bonnie Oil giants Chevron buying the energy company HES and

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Speaker 2: an old stock deal worth fifty three billion dollars. The

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Speaker 2: move gives Chevron thirty percent ownership of more than eleven

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Speaker 2: billion barrels worth of recoverable resources in Guyana. Chevron will

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Speaker 2: also get Hess's Bachan assets in North Dakota. Chevron CEO

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Speaker 2: Mike Worth explains why those shale oil assets are so

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Speaker 2: important for us.

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Speaker 9: It's about adding another scaled position in shale that is

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Speaker 9: performing very well. We can bring whatever expertise we may have.

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Speaker 9: We're working on technologies to improve recovery and learn from

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Speaker 9: our new colleagues. At Hes, we were doing things in

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Speaker 9: a basin. When we went to the DJ we learned

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Speaker 9: some things that we hadn't been doing in the permium

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Speaker 9: that made us better uncertain the same thing will happen here.

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Speaker 9: So it's absolutely an important part of the transaction.

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Speaker 2: That's a Chevrons CEO Mike Worth there. Today's announcement comes

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Speaker 2: two weeks after Excell and Mobil agreed to my shale

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Speaker 2: oiled producer Pioneer Natural Resources for fifty eight billion dollars.

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Speaker 3: Well Walt Disney is said to be nearing a multi

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Speaker 3: billion dollar deal with India's Reliance Industries. We hear the

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Speaker 3: cash and stock deal would have Reliance purchase at controlling

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Speaker 3: steak in the Disney Star business in India, Lumberg Simon

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Speaker 3: Foxman says there are still many details that need to

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Speaker 3: be worked out.

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Speaker 10: There's a discrepancy in what each company believes this should

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Speaker 10: be valued. Disney, we understand from sources values at around

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Speaker 10: ten billion dollars, whereas Reliance sees something like seven to

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Speaker 10: eight billion dollars. Interestingly, this has to do with a

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Speaker 10: controlling stake in this Disney Star unit, not sort of

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Speaker 10: the piece mail transactions that were potentially considered before. Disney's

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Speaker 10: therefore likely to continue owning a minority sake. We should

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Speaker 10: caveat that no decision has been made yet or on

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Speaker 10: any deal or on any valuation.

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Speaker 3: That's Bloomberg Simon Foxman. We hear that Reliance's acquisition could

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Speaker 3: be announced again as mentioned as early as next month.

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Speaker 2: Microsoft said it will invest five billion Australian dollars are

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Speaker 2: about three point two billion US dollars in Australia to

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Speaker 2: expand its cloud, computing and AI infrastructure over the next

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Speaker 2: two years. Let's get more now from Bloomberg's pol Allen.

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Speaker 11: Microsoft described the investment as its largest in Australia in

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Speaker 11: the past four years, and it will help the company

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Speaker 11: grow its data centers across Canberra, Sydney and Melbourne from

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Speaker 11: twenty sites up to twenty nine. The announcement comes one

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Speaker 11: day after Australian Prime Minister Anthony Albanezi touchdown in the

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Speaker 11: US for a four day official visit. Both countries have

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Speaker 11: agreed to work more closely on technology and research as

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Speaker 11: part of the second pillar of the Orcus Agreement signed

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Speaker 11: in twenty twenty one. Under ORCUS, the US, the UK

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Speaker 11: and Australia will share information in critical areas such as

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Speaker 11: quantum computing and artificial intelligence. I'm Paul Allen Bloomberg Radio.

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Speaker 3: The big advertising firm WPP has fired the executive who

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Speaker 3: was detained in China on bribery charges.

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Speaker 1: Bloomberg's Joan one with the story from Hong Kong.

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Speaker 12: The London based advertising firms that as an executive at

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Speaker 12: its media trading subsidiary Group M P reported last week

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Speaker 12: that police in Shanghai had rated the WPP offices and

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Speaker 12: detained and Group m executive and two former employees. WPP

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Speaker 12: says it opened an internal investigation into the incident. The

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Speaker 12: firm also cut ties with an unnamed business party that's

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Speaker 12: also part of the police inquiries. Chinese authorities are again

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Speaker 12: shaking the confidence of foreign companies in the country with

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Speaker 12: a series of arrests across industries. It's also proping Apple's

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Speaker 12: manufacturing partner, Foxcom Technology Group in Hong Kong. Join Wan

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Speaker 12: Bloomberg Radio.

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Speaker 3: Him Brian Curtis again with Vonnie Quinn. Our guest is

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Speaker 3: Jody Schneider, political news director for Bloomberg Television Radio, joining

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Speaker 3: us live here on the program. Jody, So, the second

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Speaker 3: release of hostages here, that's great news for the families.

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Speaker 3: What does it actually mean for Israel's ground defensive Well.

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Speaker 13: That's the real question now that they're really looking at.

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Speaker 13: People like John Kirby, the spokesman for the National Security Council,

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Speaker 13: are saying that they're hoping that this doesn't widen into

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Speaker 13: a broader war, and that there and others and there's

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Speaker 13: other representative various Western countries in the region asking Israel

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Speaker 13: to slow down, to perhaps rethink their ground strategy, partly

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Speaker 13: in the hopes of getting more hostages out. There have

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Speaker 13: been four who have been released so far, mother and

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Speaker 13: daughter who were released late last week, and then the

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Speaker 13: two older women who were released today. They had been

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Speaker 13: on a kibbutz in the south of Israel, and we're

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Speaker 13: taken by Hamas on October seventh. But it's unclear this

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Speaker 13: is the start of a wave of hostages being released

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Speaker 13: or whether Hamas is going to release anymore. And this

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Speaker 13: is of course the vexing question that is faces is

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Speaker 13: really officials as they decide what to do with their

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Speaker 13: military strategy. The hostages are a big part of what

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Speaker 13: you know that decision making process.

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Speaker 2: Well, and Jildi, how much do we know about the

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Speaker 2: process that went into releasing these particular hostages. Does the

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Speaker 2: US have intelligence about why Hamas release them and what

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Speaker 2: incentive there was for Hamas and why there might be

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Speaker 2: more releases or fewer depending on what the incentives are.

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Speaker 13: Yeah, we haven't heard a whole lot about this. The

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Speaker 13: hostages were turned over once today to the International Committee

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Speaker 13: of the Red Cross UH and that this was set

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Speaker 13: in a statement from them, and they we know that

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Speaker 13: other governments this deal was mediated by Cutter and Egypt,

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Speaker 13: that they were involved in this, but we don't know.

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Speaker 13: I know a whole lot more than that. These were

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Speaker 13: two older women. Their husbands, by the way, were not released.

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Speaker 13: They had been captured with them. But they were not released,

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Speaker 13: so one might think because they were older, maybe there

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Speaker 13: were health issues, But we really don't know a whole

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Speaker 13: lot at this point, and we don't know a whole

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Speaker 13: lot about the decision making except that you know, these

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Speaker 13: were how broken by other governments that were somewhat friendly

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Speaker 13: to them in the region.

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Speaker 3: So we have sources telling us at Bloomberg that something

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Speaker 3: of a rethink is underway on how to conduct what

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Speaker 3: comes next in Gaza, and I think it has to

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Speaker 3: do with trying to execute what you want to execute

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Speaker 3: in Gaza while not ignoring the possibility that Hesba law

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Speaker 3: would come in from the north. What do we know

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Speaker 3: about this and does it Does it indicate that Israel

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Speaker 3: would find it difficult to operate on two fronts at

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Speaker 3: the same time.

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Speaker 13: Yeah, I think that is certainly the case, Brian, that

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Speaker 13: you know, it's even though they have called up three

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Speaker 13: hundred thousand military reservists still to operate on two different

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Speaker 13: fronts and two different kinds of situations. The situation in

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Speaker 13: Gaza is a much more kind of an urban warfare

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Speaker 13: situation with with all those tunnels uh in. The situation

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Speaker 13: in the North is different, but also they're receiving a

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Speaker 13: lot of cautionary notes from other governments saying, you know,

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Speaker 13: let's let's think about this so that we don't try

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Speaker 13: to widen this conflict, and of course the US is

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Speaker 13: trying to mediate that somewhat as much as they can

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Speaker 13: at this point. President Biden, in his comments, including the

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Speaker 13: speech he made from the Oval Office last Thursday, was

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Speaker 13: talking about that, saying, you know, everyone should you know,

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Speaker 13: think long and hard. Keeps saying to Iron don't don't

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Speaker 13: get involved. But he's also they're also cautioning Israel to

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Speaker 13: think about their ground strategy for whatever this next phase

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Speaker 13: is going to be, both to try to limit the

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Speaker 13: scope of the war, but also to think about things

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Speaker 13: like the you know, the international refugee crisis that could

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Speaker 13: you know, occur uh in Gasa, and we're already seeing

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Speaker 13: a humanitarian crisis brewing there as well.

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Speaker 2: How are the odds changing that Iran gets involved, particularly

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Speaker 2: now that we have rhetoric from the United States actually

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Speaker 2: accusing Iran of actively facilitating attacks on US forces in

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Speaker 2: the Middle East, even as it's trying to sort of

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Speaker 2: calm things down and not have Israel respond.

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Speaker 13: Yeah, that's very interesting timing because the rhetoric from the

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Speaker 13: US about Iran so far has been that they didn't

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Speaker 13: see direct involvement from Iran in the attacks on October seventh,

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Speaker 13: but at the same time warning Iran not to get

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Speaker 13: more involved. Around of course has been a sponsor of Hamas,

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Speaker 13: they have given them funding. But the US has clearly

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Speaker 13: said and on several occasions there was no direct involvement,

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Speaker 13: no direct evidence of direct involvement by Iran. But today

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Speaker 13: the rhetoric did shift somewhat and it was tougher on Iran.

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Speaker 13: So one wonders if there has been some intelligence that's

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Speaker 13: sort of shown that, or whether this is just you know,

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Speaker 13: a stiffer war warning to Iran as you know, as

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Speaker 13: we await whatever the next phase is.

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Speaker 1: In terms of the death toll.

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Speaker 3: And I wonder whether pressure is building on Israel that

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Speaker 3: maybe enough is enough, because I think we had thirteen

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Speaker 3: hundred Israelis killed roughly thereabouts in the initial Hamas attacks.

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Speaker 3: Now we know that more than forty five hundred Gazans

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Speaker 3: have been killed, and obviously quite a number of those

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Speaker 3: would be humas fighters. Is there any thinking that maybe

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Speaker 3: it's time to pause and not make a full push into.

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Speaker 13: Gaza yeah, Israel has you know, so far, resisted any

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Speaker 13: of these calls for a cease fire, and even President

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Speaker 13: Biden today said you could only have a ceasefire once

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Speaker 13: those hostages are released. So that doesn't seem like it would,

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Speaker 13: you know, be particularly soon. So I think the ceasefire

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Speaker 13: discussion in Israel is probably not going very far. But

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Speaker 13: perhaps you know, some of this, some of these cautions

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Speaker 13: that are that are being given by various governments and

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Speaker 13: governments friendly Israel as well, are causing them to rethink

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Speaker 13: perhaps this broader strategy. But a ceasefire seems that it's

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Speaker 13: highly unlikely.

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