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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. The government of Venezuela has begun to release

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Speaker 1: prisoners with US citizenship. The State Department says that it's

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Speaker 1: an important step in the right direction by the interim

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Speaker 1: authorities in Venezuela, and it's also part of the effort

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Speaker 1: to meet Washington's demands following the capture of leader Nicholas Maduro.

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Speaker 1: President Trump says he's cutting off federal funding to sanctuary

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Speaker 1: cities at the end of the month. His administration has

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Speaker 1: given ninety day notices to states like California that bill

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Speaker 1: the federal government. Here is Trump.

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Speaker 2: Starting February first, We're not making any payments to sanctuary

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Speaker 2: cities or states having sanctuary cities because they do everything

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Speaker 2: possible to protect criminals at the expense of American citizens,

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Speaker 2: and it breeds fraud and crime and all of the

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Speaker 2: other problems that comes. So we're I'm making any payment

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Speaker 2: to anybody that supports sanctuary cities.

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Speaker 1: At the same time, President Trump said he's disappointed in

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Speaker 1: FED Chair J Powell for not cutting interest rates.

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Speaker 2: And just last week, the average thirty or mortgage ruppalo

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Speaker 2: six percent for the first time in many years. It's

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Speaker 2: coming down very rapidly. And that's not with the help

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Speaker 2: of the FED. If I had the help of a FED,

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Speaker 2: it would be easier. But that jerk will be gone

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Speaker 2: soon now.

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Speaker 1: Trump said he will announce his nomination to replace Powell

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Speaker 1: within the next few weeks. His remarks come in the

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Speaker 1: midst of backlash over the Department of Justice's probe over

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Speaker 1: the FED. Iran has experienced more than two weeks of

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Speaker 1: deadly nationwide protest, and the Oslo based Iran Human Rights

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Speaker 1: group is now warning the death toll could be more

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Speaker 1: than six thousand. Today, President Trump urged Iranians to keep

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Speaker 1: up their protest, and he said that help is on

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Speaker 1: the way. Here is Bloomberg's Nick Wadhams.

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Speaker 3: Well, if they take him seriously and they do ramp

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Speaker 3: up those protests and face violence from the government, I mean,

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Speaker 3: what we've heard is that hundreds of people have been

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Speaker 3: killed so far as the government tries to crack down

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Speaker 3: on these protests. So they if they go out there

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Speaker 3: thinking that the US is somehow going to have to

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Speaker 3: have their back, you know what pressure or obligation does

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Speaker 3: that put on President Donald Trump?

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Speaker 1: That is Bloomberg's Nick Wadams. Meantime, we are being told

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Speaker 1: that SpaceX is now offering free Starlink satellite service in

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Speaker 1: Iran after a day's long internet blackout. In the US,

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Speaker 1: about one point four million fewer people have signed up

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Speaker 1: for Obamacare plans so far this year compared to the

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Speaker 1: same period in twenty twenty five. The expiration of those

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Speaker 1: federal tax credits is confronting consumers with significantly higher premiums.

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Speaker 1: While the drop off is less severe than projections from

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Speaker 1: the nonpartisan Congressional Budget Office and others, experts are warning

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Speaker 1: more attrition is likely in the coming months as consumers

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Speaker 1: face premiums that are on average more than doubling. Netflix

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Speaker 1: is working on revised terms for its proposed acquisition of

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Speaker 1: Warner Brothers Discovery. We are told now Netflix is discussing

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Speaker 1: making its offer all cash for Warner's studios and streaming businesses.

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Speaker 1: Here's Bloomberg's Chris Palmary.

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Speaker 4: The big takeaway here is that Netflix is in. This

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Speaker 4: has been a question mark. They We're sort of a

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Speaker 4: surprise bidd to begin with. This isn't their thing doing

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Speaker 4: these big acquisitions, and so people wonder how committed are

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Speaker 4: they to this. This is a signal that they're still

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Speaker 4: committed to doing this deal. Paramount from here, as they're

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Speaker 4: trying to get more details about the valuation process that

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Speaker 4: Warner Brothers went through public they're continuing with their tender offer.

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Speaker 4: If it comes down to a shareholder vote over the deal,

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Speaker 4: they'll oppose that. If it comes down to an annual meeting,

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Speaker 4: they will propose an alternative slate. So that's paramount strategy.

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Speaker 1: That is Bloomberg's Chris Palmery. Now, the Netflix offer has

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Speaker 1: faced opposition not only from politicians, but paramounts guidance as well,

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Speaker 1: and institutional investors have been divided on their support. Jpmore

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Speaker 1: can chase let a slide among bank stocks today after

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Speaker 1: reporting quarterly results, investment bank king fees missed, guidance and

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Speaker 1: revenue from both underwriting and advising on mergers declined. Shares

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Speaker 1: in JP Morgan fell more than four percent today. Tomorrow

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Speaker 1: we'll hear more from the big banks. Bloomberg's Tom Busby

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Speaker 1: has a preview.

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Speaker 5: At Bank of America. Net interest income, what it earns

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Speaker 5: from lending and revenue from trading and investment banking fees

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Speaker 5: will be key for investors Bloomberg consensus calls for revenue

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Speaker 5: of fifteen point four to eight billion dollars on adjusted

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Speaker 5: earnings per share of ninety five cents. At Wells Fargo.

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Speaker 5: Investors want to see how the California based banks push

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Speaker 5: into investment banking and trading is progressing. Net interest income

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Speaker 5: forecast to rise five percent. Bloomberg consensus calls for total

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Speaker 5: revenue of twenty one point sixty four billion dollars on

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Speaker 5: earnings per share of a dollar sixty eight. And finally,

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Speaker 5: we'll hear from Citigroup, which is cutting about one thousand

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Speaker 5: jobs this week and will report a pre tax loss

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Speaker 5: on the sale of its operations in Russia. Look for

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Speaker 5: revenue of twenty point four to two billion dollars on

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Speaker 5: earnings per share of a dollar sixty five. Tom busby

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Speaker 5: Bloomberg Radio.

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Speaker 1: And then that is news when you want it with

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Speaker 1: Bloomberg News. Now I'm Doug Prisoner and this is Bloomberg