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

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Speaker 1: Brian Curtis in Hong Kong. Israel ordered residents out of

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Speaker 1: parts of southern Gaza as air strikes hit areas where

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Speaker 1: Hamas leaders may be located. The US urged Israel to

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Speaker 1: create safe zones for fleeing Palestinian civilians. We hear more

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Speaker 1: from Bloomberg's Ian Fisher.

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Speaker 2: They've basically carved up southern Gaza into these little microzone.

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Speaker 2: They're warning people that, like you live in you know,

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Speaker 2: one oh one, please get to one oh four because

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Speaker 2: we're going to attack on one oh one. And the

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Speaker 2: problem is that the two point two million people who

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Speaker 2: live in Gaza, about one point eight million according to

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Speaker 2: the UN, are displaced. A lot of them have gone

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Speaker 2: to the south. So now Israel is attacking an area

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Speaker 2: that already had been very crowded, and now there's much

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Speaker 2: more so after the fighting in the north.

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Speaker 1: Meantime, Secretary of Defense Lloyd Austin is warning Israel there

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Speaker 1: are risks if the country uses too much force on

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Speaker 1: civilian populations. Bloombergg's Ed Baxter has this story.

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Speaker 3: The caution comes as Israeli soldiers move with great force

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Speaker 3: to the South, Secretary Austin is urging extreme caution.

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Speaker 4: If you drive them into the arms of the enemy,

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Speaker 4: you replace a technical victory with a strategic defeat. So

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Speaker 4: I have repeatedly made clear to Israel's leaders that protecting

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Speaker 4: Palestinian civilians in Gaza is both a moral responsibility and

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Speaker 4: a strategic imperative.

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Speaker 3: Austin has drawn criticism from Republican Senator Lindsey Graham, who

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Speaker 3: calls him naive, saying strategic failure is letting hamas stand

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Speaker 3: ed Baxter Bloomberg Radio.

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Speaker 1: The Commerce Department says it needs more money to stay

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Speaker 1: ahead of China in semiconductor technology. Bloomberg's Dan Schwartzmann with details.

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Speaker 5: While speaking at the Reagan National Defense Form in Simi Valley, California,

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Speaker 5: Commerce Secretary Jina Raimondo says that her department's Bureau of

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Speaker 5: Industry and Security needs more money to stop China from

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Speaker 5: catching up to the US on cutting edge semiconductor technology.

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Speaker 5: The secretary says that currently her budget is two hundred

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Speaker 5: million dollars, which is not enough to deny China the tech.

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Speaker 5: The Commerce Department has been placing new export controls on

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Speaker 5: semiconductors since October of twenty twenty two, Raymondo reiterated that

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Speaker 5: American companies needed to adapt to US national security priorities

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Speaker 5: despite losing revenue. The Secretary specifically called out in Nvidia,

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Speaker 5: which had designed chips for the Chinese market after the

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Speaker 5: first round of curbs, which led to the Commerce Department

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Speaker 5: tweaking the curbs to include the made for China chips,

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Speaker 5: and Vidia then went ahead and designed three new artificial

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Speaker 5: intelligence components just for China. Dan Schwartzman Bloomberg Radio.

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Speaker 1: Hong Kong Court has adjourned a winding up hearing of

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Speaker 1: China Evergrand until January twenty ninth. Evigrand now has eight

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Speaker 1: weeks to work out a deal with offshore bondholders on restructuring.

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Speaker 1: Alaska Air has agreed to buy Hawaiian Airlines in a

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Speaker 1: one point nine billion dollar deal. Bloomberg's Mary Schwangenstein tells

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Speaker 1: us what the deal will mean for Alaska Air.

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Speaker 6: Alaska says they're looking at it this way. The Hawaiian

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Speaker 6: market has always been a really strong travel market. They

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Speaker 6: believe it always will be a really strong travel market.

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Speaker 6: It's worth about six billion dollars a year, they believe.

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Speaker 6: Right now it's worth about eight billion dollars a year,

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Speaker 6: and they think by putting a hub in Honolulu, they

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Speaker 6: could really make that a huge hub that would come

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Speaker 6: close to rivaling their Seattle hub. It would really extend

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Speaker 6: their network and give the people in Hawaii more choices

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Speaker 6: to fly to the United States and be on the

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Speaker 6: West Coast.

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Speaker 1: Bloomberg's Barry Schwangenstein Alaska Air will pay eighteen dollars a

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Speaker 1: share in cash. The deal includes about nine hundred million

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Speaker 1: dollars of Hawaiian Air's debt. FED chief J Powell is

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Speaker 1: pushing back against expectations of rate cuts in the first

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Speaker 1: half of next year. Palell said the FED will move carefully.

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Speaker 7: It would be premature to conclude with confidence that we

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Speaker 7: have achieved a sufficiently restrictive stance or to speculate on

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Speaker 7: when policy might ease. We are prepared to titan policy

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Speaker 7: further if it becomes appropriate to do so.

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Speaker 1: Paul had suggested the FED expecs to leave right steady

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Speaker 1: when policymakers meet December twelfth and thirteenth. And that's news

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Speaker 1: when you want it. With Bloomberg News Now, I'm Brian Curtis.

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Speaker 1: This is Bloomberg