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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: They say it's the Bloomberg Daybreak here at podcast, available

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Speaker 2: every morning on Apple, Spotify or wherever you listen. It's Friday,

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Speaker 2: the third of January in London. I'm Stephen Carroll coming

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Speaker 2: up today. The FBI is treating the New Year's attack

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Speaker 2: in New Orleans as an act of terrorism, but says

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Speaker 2: the suspect acted alone. South Korean investigators fail to arrest

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Speaker 2: impeach president Yun Suk yul after a standoff with his

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Speaker 2: security team. Plus, Nick Clegg is being replaced as head

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Speaker 2: of Global affairs at Meta as the company seeks to

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Speaker 2: boost its ties to the Republican Party in the US.

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Speaker 2: Let's start with a roundup of our top stories. The

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Speaker 2: FBI has found no evidence linking too deadly attacks in

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Speaker 2: New Orleans and Las Vegas in the early hours of

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Speaker 2: New Year's Day. The New Orleans assault, which left fifteen

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Speaker 2: people dead and more than thirty injured, is being investigated

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Speaker 2: as an act of terror. FBI Assistant Deputy Director Christopher

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Speaker 2: Reya says the suspect was a supporter of ISIS.

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Speaker 3: This was an act of terrorism, It was premeditated and

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Speaker 3: an evil act at this point, there is no definitive

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Speaker 3: link between the attack here in New Orleans and the

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Speaker 3: one in Las Vegas.

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Speaker 2: Rayan making those comments despite similarities between the two events

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Speaker 2: that both of the suspects He's rented vehicles in the

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Speaker 2: attacks through the turo car sharing app and both had

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Speaker 2: a background in the US Army. The events have unsettled

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Speaker 2: to the US less than three weeks before Donald Trump

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Speaker 2: is set to take over as president. President Joe Biden

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Speaker 2: says he stands with the people of New Orleans.

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Speaker 4: People in New Orleans are sending an unmistakable message they

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Speaker 4: will not let his attack or the attackers deluded ideology

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Speaker 4: overcome us. None of us should fear it overcome its.

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Speaker 2: Biden also told journalists that he has directed the FBI

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Speaker 2: to continue looking for any possible link to foreign terrorism.

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Speaker 2: On social media, President elect Donald Trump sought to draw

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Speaker 2: links between the attacks and border policy under Joe Biden,

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Speaker 2: despite the suspects being US citizens. South Korean investigators have

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Speaker 2: tried and failed to arrest impeach president Yun Suk Yul.

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Speaker 2: Anti corruption investigators headed to the former leader's residents this morning.

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Speaker 2: Bloomberg's chief North Asia TV correspondent Steven Engel says they

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Speaker 2: were blocked by Yun's security detail.

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Speaker 5: They faced resistance from his own security apparatus. We're getting

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Speaker 5: statements essentially saying they've called off that attempt to serve

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Speaker 5: him the papers the arrest warrant, and they say that

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Speaker 5: they deemed that it would be impossible to do so

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Speaker 5: because of the security apparatus. They also expressed deep regret

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Speaker 5: over President Yun's stance.

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Speaker 2: Bloomberg's Steven Engel there the attempt to arrest Yun followed

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Speaker 2: his shocking martial law declaration in December. Ewan's representative called

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Speaker 2: the arrested attempt a legal and vowed to take legal action.

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Speaker 2: They had previously sought a court injunction to block the warrant.

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Speaker 2: Sources of told Bloomberg the US President Joe Biden will

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Speaker 2: block the sale of US Steel to nip On Steel.

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Speaker 2: The decisions expected to be announced later today. The president

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Speaker 2: had previously indicated his opposition to the fourteen point one

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Speaker 2: billion dollar takeover. The deal, first announced in December twenty

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Speaker 2: twenty three, became a political issue during the presidential campaign

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Speaker 2: after fierce opposition arose in the United Steelworkers' Union. A

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Speaker 2: review had centered on whether the sale of the company

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Speaker 2: would amount to a national security risk. Meta is replacing

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Speaker 2: Nick Clegg as its president of Global Affairs. The former

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Speaker 2: UK Deputy Prime Minister will be succeeded by his deputy,

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Speaker 2: Joel Kaplan, a longtime executive with strong ties to the

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Speaker 2: Republican Party. Kaplan has been an advocate for allowing more

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Speaker 2: speech from across the political spectrum on Meta's platform. The

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Speaker 2: personnel changes come as the company works to repair its

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Speaker 2: relationship with President elect Trump, who was accused of the

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Speaker 2: company of censoring conservative speech. China's planning to restrict exports

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Speaker 2: of technology used to make battery components and the processing

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Speaker 2: of two crucial metals. If implemented, the moves will be

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Speaker 2: the latest in a series of bands targeting critical minerals

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Speaker 2: and their processing technology. Currently, China controls nearly eighty five

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Speaker 2: percent of global battery cell production capacity. The Shinuanis Agency

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Speaker 2: says the proposal has currently opened to consultation until the

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Speaker 2: beginning of February, and taxes on minimum wage jobs in

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Speaker 2: the UK are set to hit double what they were

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Speaker 2: a decade ago. That's according to new research by a

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Speaker 2: conservative think tank, Boombergs Two at a bio has.

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Speaker 6: More the combined amount of tax paid by employees and

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Speaker 6: employers will rise to more than twenty one percent of

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Speaker 6: salary for minimum wage workers. That's our to the government's

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Speaker 6: increase payroll levee comes into effect in April. It's a

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Speaker 6: figure that's up eleven percent from twenty to fifteen, say

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Speaker 6: the Center for Policy Studies, whose research finds that it

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Speaker 6: will cost two three hundred and sixty seven pounds more

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Speaker 6: to employ one of the UK's lowest paid full time

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Speaker 6: workers compared to last year. The increase in employer's national

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Speaker 6: insurance contributions has triggered a backlash from basesses, who warn

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Speaker 6: they will need to pass on the costs, potentially through

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Speaker 6: job cuts, lower wage growth, or price hikes. In London,

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Speaker 6: to add a bio, Bloomberg Radio.

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Speaker 2: Those are your top stories on the markets. Wall Street

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Speaker 2: started the trading year in a Sarah no the SMP

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Speaker 2: five hundred closing down two tenths of one percent. The

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Speaker 2: dollar had been stronger, though the eurofail zero point nine

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Speaker 2: percent yesterday to below the one oh three handle. It's

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Speaker 2: still there today one oh two seventy two against the dollar,

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Speaker 2: although a tenth of one percent stronger. Tesla's shares sank

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Speaker 2: by six percent after their annual EV sales dropped for

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Speaker 2: the first time in more than a decade. I Meanwhile,

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Speaker 2: Apple share is slipped by as much as two point

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Speaker 2: five percent on reports of discounted iPhones in China. In Asia, today,

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Speaker 2: we have Chinese stocks trading lower again on the CSI

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Speaker 2: three hundred by one percent, and the Hangsang in Hong

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Speaker 2: Kong is up by four tenths. That's after the major

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Speaker 2: sell off we saw yesterday. In a moment, we'll update

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Speaker 2: you on the investigations into those attacks in the United States,

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Speaker 2: plus get the latest from South Korea, where attempts to

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Speaker 2: arrest the impeached president have been halted after that standoff

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Speaker 2: between police and protesters in Seoul. But another story that

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Speaker 2: I wanted to mention this morning from our opinion columnist

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Speaker 2: Andy Muckerjee, looking at why crypto bros need to temper

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Speaker 2: their hopes for twenty twenty five now. Of course, between

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Speaker 2: this huge rally in Bitcoin since Donald Trump was elected,

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Speaker 2: rose over one hundred percent in fact in value last year.

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Speaker 2: Although it's off the peak, it's still trading at nearly

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Speaker 2: ninety seven thousand dollars a token today. But Andy writes

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Speaker 2: that although we shouldn't be surprised if the hopes of

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Speaker 2: big procrypto policies from Donald Trump don't turn out to

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Speaker 2: be as much of a boom for the industry as

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Speaker 2: had been hoped, and he points to the widely differing

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Speaker 2: approaches to these assets being taken in different parts of

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Speaker 2: the world, more regulation requiring bigger reserves for stable coin

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Speaker 2: coming into force at the end of last year in

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Speaker 2: the European Union, China Meal while wanting to employ crypto

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Speaker 2: assets to resist the dollar's dominance, and also Silicon Valley's

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Speaker 2: utopian idea of decentralized finance, and he concludes that twenty

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Speaker 2: twenty five could be a potentially tumultuous year for firms

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Speaker 2: who are at this intersection of money, banking and technology.

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Speaker 2: He's got five key trends to watch in this area,

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Speaker 2: including an East West split and the fads in crypto

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Speaker 2: that may disappear this year. You can read this full

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Speaker 2: piece a Bloomberg dot Com forward slash opinion. Let's get

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Speaker 2: the latest now on the investigations into those attacks in

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Speaker 2: the US, in New Orleans and in Las Vegas. Our

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Speaker 2: senior editor Derek Worldbank joins us Now for more. Starting

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Speaker 2: with the events in New Orleans, investig gators now say

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Speaker 2: they believe the suspect, chamser Dunjapar, was working alone. What

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Speaker 2: is the latest that we've heard about this investigation.

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Speaker 7: Yeah, that's the most significant thing that we've heard about

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Speaker 7: it recently is that there do not appear to be

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Speaker 7: necessarily links between that event in New Orleans and the

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Speaker 7: explosion in a Tesla cyber truck in Las Vegas. Their

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Speaker 7: the FBI did say that they believe that the suspect

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Speaker 7: in New Orleans was acting alone, that there's not a

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Speaker 7: further threat to the public. But I do think that,

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Speaker 7: you know, now a little bit further on from when

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Speaker 7: we were discussing this yesterday, you know, there's still a

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Speaker 7: lot of disquiet about how these attacks could have happened,

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Speaker 7: what caused them to happen, and how things like that

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Speaker 7: can be prevented.

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Speaker 2: That's what we've heard in terms of the events in

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Speaker 2: New Orleans. But when it comes to Las Vegas, the

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Speaker 2: investigation of course proceeding there as well, and the suspect

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Speaker 2: has been identified, the person who blew themselves up in

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Speaker 2: that cyber.

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Speaker 7: Truck yes, that's right. The driver is listed as a

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Speaker 7: Matthew Allen Livelsberger, thirty seven on lee from the US

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Speaker 7: Army from his post in Germany, you know, apparently rented

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Speaker 7: the cyber truck in Denver, drove to Las Vegas. But

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Speaker 7: that's sort of how did something happen? The why is

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Speaker 7: I think a big question that people are going to

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Speaker 7: have going forward and look at you know, as I say,

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Speaker 7: the operative thing that law enforcement are looking at at

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Speaker 7: this moment. I think that that is very very high

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Speaker 7: of mind, is how do you secure big events and

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Speaker 7: big places going forward? You know, certainly if you're thinking

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Speaker 7: about New Orleans, if you're thinking about Las Vegas, both

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Speaker 7: very very tourist heavy places, and there are certain any

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Speaker 7: number of very large events upcoming, not least of which

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Speaker 7: Donald Trump's inauguration that that you know, traditionally presidential inauguration

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Speaker 7: is one of the most tightly secured events. But it's

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Speaker 7: also an outdoor event at the side of the US capital,

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Speaker 7: and that has a lot of you know, sort of

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Speaker 7: security challenges anyway, so there's it's a it's a giant

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Speaker 7: multi agency response that that happens every four years, but

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Speaker 7: you would imagine at this point that every single part

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Speaker 7: of that plan will be gone over with a fine

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Speaker 7: tooth comb, trying to figure out how to make sure

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Speaker 7: that that is completely secure, especially as you know it

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Speaker 7: shouldn't have to be mentioned, but especially after the events

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Speaker 7: in Butler, Pennsylvania last year, with the shooting that targeted

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Speaker 7: now President elect Donald Trump.

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Speaker 8: Yeah.

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Speaker 2: Indeed, and we've been hearing from both Joe bid Non

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Speaker 2: Donald Trump on these events over the past couple of

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Speaker 2: days as well. I mean, how should we be perceiving

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Speaker 2: I suppose Donald Trump's commentary about this, given that we are,

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Speaker 2: as you say, only just over two weeks away from

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Speaker 2: his inauguration.

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Speaker 7: Well, Donald Trump has made comments about this event.

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Speaker 8: Uh.

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Speaker 7: And and also immigration. You know, it's I think his

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Speaker 7: the the the person involved in the New Orleans shoot,

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Speaker 7: the New Orleans incident, I should say, according to the FBI,

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Speaker 7: was an American. But but Trump has said repeatedly that

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Speaker 7: there is a problem with immigration, letting people in who

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Speaker 7: are who are not who you'd want in the United States.

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Speaker 7: His advisors have sought to clarify those remarks a little bit.

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Speaker 7: One of them said that that it was in reference

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Speaker 7: in ideology that was imported the dangerous ideology that was imported.

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Speaker 7: But I do think that the idea broadly of linking

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Speaker 7: crime and and problematic things that happen with attempts to

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Speaker 7: UH to secure, restrict however whatever word you want to use,

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Speaker 7: their immigration. I think that is something that that Trump

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Speaker 7: and his allies have have been doing are going to

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Speaker 7: continue to do, UH in support of of policy goals

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Speaker 7: to that effect.

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Speaker 2: Yeah, this is kind of a very interesting time to

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Speaker 2: be thinking about these sorts of conversations, given that we

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Speaker 2: are now in this time when the of course we're

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Speaker 2: at the end of one presidency and the stars of

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Speaker 2: another as well. I mean, this is something that we

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Speaker 2: should expect really to be a key theme of Donald

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Speaker 2: Trump's presidency, given the how this has been set up

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Speaker 2: with these events right before the inauguration.

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Speaker 7: Yeah, I think. I mean, look, any anybody who was

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Speaker 7: was paying attention in the first term knows how much

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Speaker 7: of a play immigration was and how much of a

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Speaker 7: focus it was for Donald Trump in his first term, right,

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Speaker 7: and so I don't think that there should be any

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Speaker 7: surprise that that will be a major focus of his

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Speaker 7: second term. I think that he has an awful lot

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Speaker 7: of people who are looking for action. There some people

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Speaker 7: who have been concerned that he was prevented from going

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Speaker 7: as far as he would have wanted on those counts

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Speaker 7: in the first term, and are who are minded to

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Speaker 7: make sure that doesn't happen again. At the same time,

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Speaker 7: I do think that it's important to note that Trump

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Speaker 7: will have voices in his ear, and Elon Musk is

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Speaker 7: one of them who are talking about wanting to have

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Speaker 7: what one you know, what they might refer to as

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Speaker 7: the right kind of folks come into the US. You know,

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Speaker 7: you've even seen commentary on that side of the argument,

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Speaker 7: and you know, Trump has been one of the people

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Speaker 7: who are saying, you know, we should make it easier

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Speaker 7: for people who graduate from US universities to be able

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Speaker 7: to get green cards and permanent immigration status, things of

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Speaker 7: that nature. So that is going to be I think,

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Speaker 7: even as you're looking at a higher security posture, as

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Speaker 7: more border defenses, border barriers, et cetera like that. At

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Speaker 7: the other hand, there will be a debate about what

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Speaker 7: to do with sort of high skilled visas these you know,

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Speaker 7: targeting tech workers. There will be a big debate about

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Speaker 7: what one does with with immigration as relates to farm

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Speaker 7: labor and as well as professional degrees requiring collegiate educations,

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Speaker 7: because the US does take in a lot of people

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Speaker 7: who are looking to study, but does also give a

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Speaker 7: lot of them back to their home countries after they

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Speaker 7: get their degrees. And and you know, as I say,

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Speaker 7: the Republicans do have a coalition that stretches from chambers

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Speaker 7: of commerce to people who very much want to see

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Speaker 7: borders tightly controlled. And figuring out how to get legislation

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Speaker 7: through that coalition is going to be a very large

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Speaker 7: challenge for the Trump administration.

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Speaker 2: Okay, Derek Wellbankcarsenior Editor, thank you very much for joining us.

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Speaker 2: In South Korea, anti corrupt and investigators have stopped efforts

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Speaker 2: to arrest President Yun sokiol after thousands of police faced

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Speaker 2: off with his supporters in Soul. The development comes after

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Speaker 2: talks between Yun's lawyers and representatives from the country's corruption

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Speaker 2: investigation office. Bloomberg' Katia Demitreevia joins us now with the latest, Katy,

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Speaker 2: what has happened then to this arrest warrant issued on

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Speaker 2: insurrection charges after the president's declaration of martial law last month.

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Speaker 8: The latest chapter really in this political turmoil. It began

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Speaker 8: at dawn today and it ended about an hour and

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Speaker 8: a half ago, and as you mentioned there, the CEO

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Speaker 8: had to pull back, so special investigators had to pull

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Speaker 8: back as well as police because they were met with

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Speaker 8: this wall of President Unior, former President U supporters as

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Speaker 8: well as his security. Now the question is sort of

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Speaker 8: what do they do next, and we're waiting to hear

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Speaker 8: from them later this afternoon in Seoul about next steps.

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Speaker 8: They're going to sort of pull back, go back to

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Speaker 8: the table and figure out what they do now. The

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Speaker 8: warrant for his arrest is still valid until January sixth,

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Speaker 8: so they still have three days to decide. But given

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Speaker 8: what happened this morning and sort of the mayhem and

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Speaker 8: the sheer number of civilians who were there as well,

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Speaker 8: it would be pretty tough and I imagine it would be

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Speaker 8: pretty tough to sort of do a round two of

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Speaker 8: that exact thing.

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Speaker 2: Yeah, I mean took us through exactly what happened in

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Speaker 2: Solo this morning, because they were pretty extraordinary scenes around

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Speaker 2: the residents of the impeached president.

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Speaker 8: It really was, and quite different from the past few weeks.

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Speaker 8: You know, we've gotten used to seeing a lot of

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Speaker 8: the video and photos of scenes from with people chanting

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Speaker 8: and they have their light sticks out and there's you know,

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Speaker 8: K pop music and food and it was a very

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Speaker 8: different scene this morning. You know, it started at dawn.

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Speaker 8: There was already a line of supporters of Un at

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Speaker 8: his residence and buses of police pulling up. You know,

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Speaker 8: this wasn't just you know, swat to humor a couple,

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Speaker 8: a couple of investigators. This was an entire effort, likely

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Speaker 8: because they foresaw that they would be met with with

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Speaker 8: at least some resistance, and so they arrived at the compound,

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Speaker 8: they tried to make their way in. As we found

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Speaker 8: out just a couple of minutes ago, about ten minutes ago,

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Speaker 8: that the CIO didn't even meet Un during the arrest attempt,

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Speaker 8: so they didn't even see him during that process, and

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Speaker 8: they just had to pull back pretty much pretty much

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Speaker 8: immediately after a few hours. So you can still see

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Speaker 8: you know a few people outside of outside of the residents,

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Speaker 8: they're holding posters and signs sort of accused the opposition

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Speaker 8: of master planning all of this, you know, their supporters

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Speaker 8: of the former president. So about twelve hundred people I

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Speaker 8: believe in total was the count. A lot of them

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Speaker 8: are still there.

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Speaker 2: Remind us Katty of the background to this case as well.

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Speaker 2: Why is Jun Sokiell refusing to appear for questioning on

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Speaker 2: these charges.

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Speaker 8: This is so important to remember because there has been

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Speaker 8: so much happening in the past few weeks in South Korea.

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Speaker 8: So how we got here is that the investigators, so

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Speaker 8: a month ago, exactly a month ago, in December third,

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Speaker 8: the president at the time, President Yun, imposed martial law.

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Speaker 8: It was about six hours and following that there was

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Speaker 8: obviously a lot of public pushback that were protests and

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Speaker 8: also pushback from the opposition party, who immediately held a vote,

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Speaker 8: several votes, and he was the president was eventually impeached.

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Speaker 8: Now the investigators are probing Un for insurrection and that

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Speaker 8: was specifically about declaring martial law. They've asked him in

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Speaker 8: for questioning several times and he has declined, and so

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Speaker 8: this is kind of what prompted this step. It was

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Speaker 8: calling him in for questioning several times and him failing

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Speaker 8: to appear. Now, Yune and his camp and his you know,

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Speaker 8: his lawyers have repeatedly refused and they've said that this

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Speaker 8: is not valid, it's not warranted, and in fact they

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Speaker 8: have called it illegal and they're trying to get a

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Speaker 8: court injunction, and so they're sort of at this loggerheads

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Speaker 8: that culminated in today and of course this this stunning,

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Speaker 8: really you know, unprecedented. I know we've been saying that

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Speaker 8: a lot lately in South Korea, but really unprecedented move today.

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Speaker 2: What should we be watching for in terms of next developments?

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Speaker 8: So this afternoon the CIO will be hosting another press conference.

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Speaker 8: We should get some more details then, so hearing about

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Speaker 8: next steps, whether they're going to try to arrest him

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Speaker 8: again or maybe call him in for questioning again again.

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Speaker 8: The warrant is there, it's legal, it's available until January sixth,

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Speaker 8: and that's sort of where we're at. And then just

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Speaker 8: watching markets which aren't doing too bad to hear on

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Speaker 8: the news, and that's sort of where we're at so far.

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Speaker 7: M