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

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Speaker 1: Doug Prisoner. A fast moving wildfire in the Los Angeles

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Speaker 1: neighborhood of Pacific Palisades has forced about thirty thousand people

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Speaker 1: to evacuate as a brutal windstorm approaches. This fire has

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Speaker 1: quickly spread to cover twenty nine hundred acres, and authorities

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Speaker 1: say more than thirteen thousand structures are still threatened. California

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Speaker 1: Governor Gavin Newsom has declared a state of emergency. Here

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Speaker 1: is Newsom.

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Speaker 2: You may feel at home that you're fine down in

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Speaker 2: Riverside County, San Bernardino County, down in Ventura County, other

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Speaker 2: parts of the state. But there's a reason we pre

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Speaker 2: positioned hundreds of assets and personnel on Sunday in anticipation

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Speaker 2: of this wind event.

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Speaker 1: That was California Governor Gavin Newsom.

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Speaker 2: Now.

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Speaker 1: These high winds are expected to continue through Wednesday, with

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Speaker 1: gust possibly exceeding one hundred miles per hour in some areas. Meantime,

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Speaker 1: in Washington, President Biden said he is being frequently briefed

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Speaker 1: on the wild fires. He went on to offer any

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Speaker 1: federal assistance that is needed to help suppress the Pacific

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Speaker 1: Palisades fire a twenty one gun salute at the US

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Speaker 1: Capitol during a memorial service for former President Jimmy Carter.

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Speaker 1: Here is Vice President Kamala Harris.

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Speaker 3: Throughout the world, Jimmy Carter elevated the role of human

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Speaker 3: rights in America's foreign policy priorities and uplifted the importance

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Speaker 3: of civil society in doing that work.

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Speaker 1: That is Vice President Harris there now. Carter will lie

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Speaker 1: in state for a day and a half before a

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Speaker 1: formal state funeral on Thursday. The Biden administration is planning

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Speaker 1: to streamline permitting for geothermal energy development. This is part

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Speaker 1: of an executive order to boost infrastructure for AI data centers.

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Speaker 1: We are told to measures include establishing a competitive process

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Speaker 1: for companies to build data centers on federal land. This

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Speaker 1: will also include steps to speed approval for geothermal and

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Speaker 1: nuclear energy development. Officials are aiming to publish these rules

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Speaker 1: within the next week. However, the timing does remain subject

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Speaker 1: to change. Samsung Electronics reported quarterly profit well below estimates.

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Speaker 1: This is due in part to Samsung's struggle to regain

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Speaker 1: market share in AI chips and smartphones. We got reaction

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Speaker 1: from Tom Kang, research director at counterpoint.

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Speaker 4: Samsung is just going through one of its toughest moments

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Speaker 4: in its history. Its main business driver memory chips. I

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Speaker 4: clearly missed a big cycle HPM, which is really required

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Speaker 4: for the growth of AI and then its other products

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Speaker 4: like mobile consumer electronics TVs are also hurting from a

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Speaker 4: weak consumer demand, especially the Chinese market.

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Speaker 1: That's Tom Kang, research director at counterpoint. The billionaire real

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Speaker 1: estate developer Hussain Sajuani will invest twenty billion dollars to

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Speaker 1: build new data centers in the US. Sajuani stood aside

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Speaker 1: President Elect Trump earlier today at Mara A Lago.

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Speaker 5: It's an honor to have such a great investor investing

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Speaker 5: in our country. The investment will support massive new data

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Speaker 5: centers across the Midwest, the Sunbelt area and also to

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Speaker 5: keep America on the cutting edge of technology and artificial intelligencies.

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Speaker 5: Very big into the data centers that.

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Speaker 1: It's President elect Trump now. The investment is part of

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Speaker 1: an expansion by Sijuani's Democ Group into data centers. The

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Speaker 1: company is planning to invest three billion dollars in Southeast

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Speaker 1: Asia in the next three to five years. Now. Saijuani

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Speaker 1: has a long standing relationship with Trump. The two partnered

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Speaker 1: on luxury golf courses in Dubai over a decade ago. Now,

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Speaker 1: during that same news conference at Mara a Lago, the

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Speaker 1: President elect made several bold and improbable statements. He said

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Speaker 1: the US should seize the Panama Canal and Greenland and

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Speaker 1: rename the Gulf of Mexico. Here's Trump.

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Speaker 5: I can't assure you. You're talking about Panama and Greenland. No,

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Speaker 5: I can't assure you on either of those two, but

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Speaker 5: I can say this, we need them for economic security.

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Speaker 5: The Panama Canal was built for a military. I'm not

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Speaker 5: going to commit to that now. It might be that

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Speaker 5: you'll have to do something. Look, the Panama Canal is

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Speaker 5: vital to our country. It's being operated by China.

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Speaker 1: President elect Trump speaking there, he did not explain how

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Speaker 1: any of those pledges would come to pass, beyond threatening

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Speaker 1: to impose tariffs on nations that do not cooperate. And

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Speaker 1: that is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Prisoner, and this is Bloomberg New