WEBVTT - TikTok Ban Update; Trump Eyes Paulson for Cabinet

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. Good morning, I'm Nathan

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<v Speaker 1>Hager and I'm Karen Moscow. Here are the stories we're

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<v Speaker 1>following today.

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<v Speaker 2>We begin in Washington, where a bill aimed at forcing

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<v Speaker 2>a sale of TikTok is moving forward on Capitol Hill.

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<v Speaker 3>The House passed the.

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<v Speaker 2>TikTok Divestment Bill by a vote of three point fifty

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<v Speaker 2>two to sixty five. Republican Dan Crenshaw says there's a

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<v Speaker 2>simple reason why he voted for it. TikTok is owned

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<v Speaker 2>by Byte Dance. Byte Dance is in China, and when

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<v Speaker 2>you're in China, you have to do whatever the Chinese

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<v Speaker 2>Communist Party says you have to do. That's according to

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<v Speaker 2>the National Intelligence Slot pass in twenty seventeen. But fellow

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<v Speaker 2>Republican Thomas Massey says the bill could do more than

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<v Speaker 2>just ban TikTok.

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<v Speaker 4>It could also be named the Facebook Protection and Enhancement Act,

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<v Speaker 4>because it's not the American people are going to benefit

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<v Speaker 4>most from this. It will be Facebook. Talk is going

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<v Speaker 4>to go up if this bill should pass the Senate.

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<v Speaker 2>Now, the bill does now head to the Senate, where

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<v Speaker 2>its prospects are less clear. Majority Leader Chuck Schumer has

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<v Speaker 2>only said he'll review the bill. Democrat Marie Cantwell has

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<v Speaker 2>not committed to taking up the legislation when it comes

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<v Speaker 2>before her Commerce Committee.

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<v Speaker 1>Well Nathan, the CEO of TikTok, says he is disappointed

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<v Speaker 1>with the vote in the House.

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<v Speaker 3>Showed Chu posted this video on.

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<v Speaker 5>X Over the last few years, we have invested to

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<v Speaker 5>keep your data safe, an all platform free from outside manipulation.

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<v Speaker 5>We have committed that we will continue to do so.

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<v Speaker 5>We will continue to do all we can, including exercising

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<v Speaker 5>our legal rights to protect this amazing platform that we

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<v Speaker 5>have built with you.

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<v Speaker 1>And the memo seen by Bloomberg, TikTok reiterated its plan

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<v Speaker 1>to lobby the Senate not to pass the legislation.

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<v Speaker 2>Karrol Let's turn to presidential politics now. Donald Trump may

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<v Speaker 2>be looking to Wall Street to fill some key cabinet

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<v Speaker 2>positions if he wins the White House again. We get

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<v Speaker 2>the story from Bloomberg's Jeff Bellinger.

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<v Speaker 6>Bloomberg News has learned Trump as Tall talked about hedge

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<v Speaker 6>fund titan John Paulson as Treasury Secretary if he wins

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<v Speaker 6>the November presidential election. Sources say Paulson hosted a fundraiser

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<v Speaker 6>for Trump's re election at his Palm Beach home last month,

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<v Speaker 6>and he is scheduled to host another one for Trump

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<v Speaker 6>in three weeks with Cantor Fitzgerald's Howard Lutnik. The sources

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<v Speaker 6>say Paulson's name has come up in recent discussions, but

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<v Speaker 6>the conversations were informal, and any discussions about a possible

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<v Speaker 6>cabinet post are preliminary. Other potential names in the mix

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<v Speaker 6>for the top Treasury post should Trump defeat incumbent President

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<v Speaker 6>Biden include former Trade Representative Robert Leitthheiser and Susquehanna International

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<v Speaker 6>Group founder Jeff Yass Jeff Bullinger Bloomberg.

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<v Speaker 1>Radio, all right, Jeff, thank you well. Speculations for also

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<v Speaker 1>about John Paulson taking a role in Treasury. The current

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<v Speaker 1>secretary is speaking out about the economy. Jenny Yellen says

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<v Speaker 1>it's quote unlikely that market interest rates return to levels

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<v Speaker 1>that prevail before the COVID pandemic triggered a wave of

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<v Speaker 1>floation and higher yields. Ten your US Treasury yields average

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<v Speaker 1>two point three nine percent in the decade through twenty nineteen.

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<v Speaker 1>They spiked about five percent last October after the Fed

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<v Speaker 1>raised rates aggressively to combat inflation. The ten year now

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<v Speaker 1>sits just below four point two percent and care in.

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<v Speaker 2>The busy week for economic data continues this morning with

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<v Speaker 2>the release of retail sales and producer prices for the

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<v Speaker 2>month of February. Let's get a preview from Bloomberg's Michael McKee.

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<v Speaker 7>Fed officials and investors will get two more key pieces

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<v Speaker 7>of data before the Central Banks policy meeting next week.

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<v Speaker 7>A strong rebound is forecast for February retail sales, which

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<v Speaker 7>contracted in January. Private sector sources, including credit card systems,

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<v Speaker 7>suggests spending picked up a lot in the last month.

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<v Speaker 7>On the one hand, that would reassure Fed officials that

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<v Speaker 7>the economy is not close to recession. On the other

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<v Speaker 7>it may feed fears that a strengthening economy will feed inflation.

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<v Speaker 7>The producer price index, also released today, may offer some clues.

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<v Speaker 7>It's basically forecast to be stable after unexpectedly rising in January.

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<v Speaker 7>The Fed and investors will be hoping economists are wrong

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<v Speaker 7>and factory gate prices end up being softer than forecast.

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<v Speaker 7>Michael McKee, Bloomberg Radio.

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<v Speaker 1>All right, Mike, thanks well. In company news, the hunt

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<v Speaker 1>is on for Disney to pick an eventual successor to

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<v Speaker 1>CEO Bob Iger. We get the story from Bloomberg's John Tucker, John.

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<v Speaker 8>And Karen Disney has struggled with its succession planning in

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<v Speaker 8>the past, and now they're making a stronger push to

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<v Speaker 8>find somebody to replace CEO Bob Iiger. Eventually, Disney's board

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<v Speaker 8>focusing on four divisional heads that the TV chief Dana Walden,

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<v Speaker 8>ESPN's Jimmy Peterro, the theme parks boss Josh Tomorrow, and

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<v Speaker 8>Alan Bergman, who heads the film business. Igers spending time

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<v Speaker 8>with all of the candidates to share his Disney magic.

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<v Speaker 8>This is happening under the glare of dissident shareholders like

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<v Speaker 8>Nelson Peltz, who are seeking board seats at Disney's April

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<v Speaker 8>third annual meeting. Iger's contract runs through the end of

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<v Speaker 8>twenty twenty six. No decision on a successor is expected

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<v Speaker 8>this year. John Tucker, Bloomberg Radio, All right, John.

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<v Speaker 2>Thanks to other C suite news this morning, under Armour

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<v Speaker 2>says its founder executive chairman Kevin Plank is returning as CEO.

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<v Speaker 2>That story from Bloomberg's Charlie Pellett.

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<v Speaker 3>Stephanie Lenartz departs after she led just over a year

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<v Speaker 3>of fitful efforts to reinvigorate the athletic brand. Plank will

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<v Speaker 3>return to the CEO job on April first. Lennart's will

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<v Speaker 3>remain an advisor to the company through April thirtieth. Lead

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<v Speaker 3>director Mohammad al Aarian and economists and columnists from Bloomberg

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<v Speaker 3>Opinion will succeed Plank as chairman in New York. Charlie

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<v Speaker 3>Pellett Bloomberg Radio, all.

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<v Speaker 1>Right, Charlie, thanks, We'll investors await the highly anticipated IPO

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<v Speaker 1>from Reddit. The social media company is giving guidance on

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<v Speaker 1>its expectations. Bloomberg News has learned Reddit as telling potential

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<v Speaker 1>investors that it expects revenue in twenty twenty four to

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<v Speaker 1>grow by more than twenty percent versus the previous year.

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<v Speaker 1>According to a filing that the sec revenue in twenty

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<v Speaker 1>twenty three crud just over eight hundred million dollars, and.

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<v Speaker 2>Karina Saudi Arabia pushes ahead with one of the largest

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<v Speaker 2>stock offerings in recent years. Bloomberg News has learned the

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<v Speaker 2>Kingdoms and Tucks to add top Wall Street banks for

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<v Speaker 2>a secondary share sale in oil giant a Ramco. Sources

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<v Speaker 2>say Saudi plans to hire JP Morgan Chase as one

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<v Speaker 2>of the main underwriters to the offering. Bank of America

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<v Speaker 2>and Morgan Stanley are also contending for lead roles in

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<v Speaker 2>the deal, which could raise as much as twenty billion dollars.

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<v Speaker 1>And Nathan a bullish forecash from the world's largest assembler

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<v Speaker 1>of iPhones, Han High Precision Industry, reported its second straight

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<v Speaker 1>quarter of strong profit growth. The company says lucrative AI

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<v Speaker 1>hardware sales helped offset weakness an iPhone and electronics demand.

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<v Speaker 1>It posted a thirty three percent rise in net income.

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<v Speaker 3>That it is time nowf for.

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<v Speaker 1>A look at some of the other stories making news

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<v Speaker 1>in New York and around the world. For that, we're

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<v Speaker 1>joined by Bloomberg's Michael Barr Michael, good Morning, Good.

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<v Speaker 9>Morning, Caaron. Ukrainian drone attacks all the three oil refineries

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<v Speaker 9>deep within Russian territory in an assault President Vladimir boo

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<v Speaker 9>Uden said was aimed at disrupting his presidential election later

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<v Speaker 9>this week. The aerial strike caused a fire at one

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<v Speaker 9>of the country's biggest crude processing facilities near Moscow. It

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<v Speaker 9>comes as the Biden administration says it's concerned about President

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<v Speaker 9>Putin again threatening to use nuclear weapons if his country

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<v Speaker 9>is threatened. White House Press Secretary of Karine Jean Vierre,

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<v Speaker 9>speaking on Air Force one with President Biden heading to Milwaukee,

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<v Speaker 9>says Putin has made similar nuclear threats.

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<v Speaker 10>Russia's nuclear rhetoric has been reckless and irresponsible throughout this conflict.

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<v Speaker 10>It is Russia that brutally invaded Ukraine without provocation or justification.

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<v Speaker 9>The US has insisted it will not send American troops

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<v Speaker 9>to fighting Ukraine. Add will Pe Goldberg to the list

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<v Speaker 9>of vocal critics of congestion. Pricing in Manhattan meant to

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<v Speaker 9>ease traffic. New York Governor Kathy Hokel went on the

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<v Speaker 9>View yesterday, but when the show went to commercial break,

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<v Speaker 9>the cameras kept rolling.

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<v Speaker 11>What is the point Because New Yorkers didn't mess.

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<v Speaker 7>Up the streets of New York.

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<v Speaker 5>We have bike lanes and places that were not prepared for.

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<v Speaker 3>We have trucks that are too big.

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<v Speaker 9>Governor Hockle tried to explain that the tolls below sixtieth

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<v Speaker 9>Street are intended to ease congestion.

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<v Speaker 10>I can walk backwards and heels faster than most trucks

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<v Speaker 10>can get down the streets right now.

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<v Speaker 9>Congestion pricing is expected to take effect in June. Jury

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<v Speaker 9>deliberations resumed this morning in the case of James Crumbley.

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<v Speaker 9>He is the father of the Michigan teen Ethan Crumbley,

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<v Speaker 9>who opened fire at his high school in Oxford in

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<v Speaker 9>twenty twenty one, killing four students. A jury will decide

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<v Speaker 9>whether Ethan's father is responsible for enabling his son to

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<v Speaker 9>carry out the deadly attack. The defense says argued James

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<v Speaker 9>Crumley could not have foreseen his son's deadly shooting rampage. However,

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<v Speaker 9>prosecutors say he was complicit in downplaying the troubles his

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<v Speaker 9>son was going through and did not do enough to

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<v Speaker 9>secure the firearm that Ethan eventually used in the shooting.

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<v Speaker 9>Oakland County Prosecutor Karen McDonald there more than one cause

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<v Speaker 9>of death.

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<v Speaker 10>Jeez probably doesn't get a pass because somebody else also

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<v Speaker 10>caused the death of.

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<v Speaker 1>These four kids.

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<v Speaker 9>James Crumbly's wife, Jennifer, was convicted last month of similar charges.

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<v Speaker 9>Attorneys say Rudolph Giuliani's homes in New York and Florida

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<v Speaker 9>may be put up for sale to help bring in

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<v Speaker 9>cash as he works through his bankruptcy. The former New

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<v Speaker 9>York mayor is facing nearly one hundred and fifty three

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<v Speaker 9>million dollars in debt, the bulk of which stems from

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<v Speaker 9>a one hundred and forty eight million dollar defamation judgment

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<v Speaker 9>awarded to two Georgia poll workers he accused of rigging

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<v Speaker 9>twenty twenty election results. Global news twenty four hours a

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<v Speaker 9>day and whenever you want it with the Bloomberg News Now.

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<v Speaker 9>I'm Michael Barr.

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<v Speaker 3>This is Bloomberg here, Bray, Michaelburr.

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<v Speaker 1>Thank you well. We do bring a news throughout the

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<v Speaker 1>day right here on Bloomberg Radio. But now you can

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<v Speaker 1>get the latest news on demand whenever you want it.

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<v Speaker 1>Just subscribe to Bloomberg News Now to get the latest

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<v Speaker 1>headlines right at the click of a button. Get informed

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<v Speaker 1>on your schedule. You can listen and subscribe to Blue

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<v Speaker 1>Com plus Apples, Spotify, and anywhere else you get your podcasts.

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<v Speaker 1>It's time now for the Bloomberg Sports Update, brought to

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<v Speaker 1>you by by Tri State OUDI. For that, we bring

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<v Speaker 1>in John stash Hour. John, Good morning, all.

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<v Speaker 11>Right, good morning care and the Yankees have had more

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<v Speaker 11>than their share of injuries last couple of years, but

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<v Speaker 11>Garrett Cole has been a mainstay as a Yank has

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<v Speaker 11>not missed a single start due to injury. Now he's

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<v Speaker 11>hurt an elbow injury that it has been reported, will

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<v Speaker 11>sideline Cole one to two months. The good news is

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<v Speaker 11>there's no indication of a tear that would require surgery.

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<v Speaker 11>Cole's heeded the Los Angeles to see a specialist. So

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<v Speaker 11>the question now is if the Yankees pursue a free

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<v Speaker 11>agent pitcher in Blake Snell, last year's NLCY Young Winner,

0:10:45.120 --> 0:10:48.679
<v Speaker 11>remains unsigned, as is the ex Yank Jordan Montgomery. Yanks

0:10:48.720 --> 0:10:51.400
<v Speaker 11>were said to be interested in trading for Dylan Cease

0:10:51.760 --> 0:10:53.800
<v Speaker 11>for the White Sox just traded him to San Diego.

0:10:53.920 --> 0:10:56.800
<v Speaker 11>Joe Flacco was apparently retired at age thirty nine, came

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<v Speaker 11>out of it, joined Cleveland quarterback the Browns of the playoffs.

0:10:59.840 --> 0:11:02.360
<v Speaker 11>Was the NFL Comeback Player of the Year. Flaco has

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<v Speaker 11>signed with Indianapolis. Another QB, Kirk Cousins introduced in Atlanta.

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<v Speaker 12>And I really believe as I looked around at opportunities

0:11:09.760 --> 0:11:11.880
<v Speaker 12>for me in free agency that when the coach told

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<v Speaker 12>me this when I was a young player in the league.

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<v Speaker 3>Coach I have a lot of respect for. He said.

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<v Speaker 12>When the owner, general manager, head coach and quarterback are

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<v Speaker 12>on the same page, that's when you really have a

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<v Speaker 12>chance to go win a Super Bowl. And as I

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<v Speaker 12>looked at the Atlanta Falcons, I believe strongly that the owner,

0:11:24.600 --> 0:11:26.719
<v Speaker 12>head coach, general manager, and quarterback can all be on

0:11:26.760 --> 0:11:27.319
<v Speaker 12>the same page.

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<v Speaker 11>Falcons have not had even a winning record since twenty seventeen.

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<v Speaker 11>Nets lost in Orlando one fourteen one oh six rematch

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<v Speaker 11>of last year's NBA Finals Sam result Denver one in Miami.

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<v Speaker 11>Nick start their road trip tonight in Portland. The Rangers

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<v Speaker 11>visit Tampa Bay Capitol's lost seven to two in Edmonton.

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<v Speaker 11>College basketball season ending losses for Rutgers, Fordham, and Iona

0:11:48.520 --> 0:11:51.160
<v Speaker 11>Boston College and upset went over Clemson to advance at

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<v Speaker 11>the acc Attorney At the PAC twelve, Stanford beat Callen overtime.

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<v Speaker 11>Big game of the Big East today at Saint John's

0:11:56.640 --> 0:11:59.960
<v Speaker 11>against Seaton Hall, Colgate won. The Patriot Red Raiders headed

0:12:00.120 --> 0:12:04.760
<v Speaker 11>a fifth street NCAA tournament. John Stashower of Bloomberg Sports.

0:12:04.559 --> 0:12:06.800
<v Speaker 2>What comes next in the effort to force a sale

0:12:06.840 --> 0:12:10.000
<v Speaker 2>of TikTok by its Chinese owner Byte Dance. The divestment

0:12:10.040 --> 0:12:13.000
<v Speaker 2>bill has sailed through the House, but its prospects in

0:12:13.040 --> 0:12:15.800
<v Speaker 2>the Senate look quite a bit less certain. And Bloomberg's

0:12:15.840 --> 0:12:18.840
<v Speaker 2>Alex Webb is here now with more on this Alex.

0:12:18.880 --> 0:12:21.640
<v Speaker 2>There had seemed to be a fair bit of momentum

0:12:21.760 --> 0:12:23.960
<v Speaker 2>for this bill, but it does really seem to have

0:12:24.080 --> 0:12:27.440
<v Speaker 2>shifted in just a few days. Is this just about

0:12:27.480 --> 0:12:30.199
<v Speaker 2>former President Trump changing his position or is there more

0:12:30.200 --> 0:12:31.679
<v Speaker 2>behind it?

0:12:31.920 --> 0:12:34.319
<v Speaker 13>I mean, clearly that helps, but there are a lot

0:12:34.400 --> 0:12:37.280
<v Speaker 13>of complicating factors here. As you say, is pass through

0:12:37.280 --> 0:12:39.840
<v Speaker 13>the House with very big numbers three hundred and fifty

0:12:39.880 --> 0:12:43.559
<v Speaker 13>two to sixty five. In the Senate. There are a

0:12:43.600 --> 0:12:45.800
<v Speaker 13>number of concerns. Firstly, of course, we're heading into an

0:12:45.800 --> 0:12:51.840
<v Speaker 13>election cycle. A lot of young people and including voters,

0:12:52.120 --> 0:12:55.880
<v Speaker 13>use the app, and there's concern about alienating them. There

0:12:55.880 --> 0:13:00.559
<v Speaker 13>are those within the particularly the Republican Party, who concerned

0:13:00.679 --> 0:13:04.560
<v Speaker 13>that banning it somehow would be an infringement on free speech.

0:13:05.240 --> 0:13:07.760
<v Speaker 13>And that's something actually some Democrats have agreed it's sort

0:13:07.760 --> 0:13:10.360
<v Speaker 13>of aligned with two Particularly, they think it infringes on

0:13:10.400 --> 0:13:12.960
<v Speaker 13>the free speech of younger people. That's where a lot

0:13:13.000 --> 0:13:16.600
<v Speaker 13>of young people express themselves. And thirdly, you know they

0:13:16.679 --> 0:13:18.680
<v Speaker 13>see it as a way of reaching those young voters too.

0:13:18.840 --> 0:13:21.680
<v Speaker 13>So there are a number of different complicating factors. There is,

0:13:21.760 --> 0:13:24.559
<v Speaker 13>of course, another big one that comes out of money,

0:13:24.600 --> 0:13:29.240
<v Speaker 13>that there's a major Republican donor, Jeff Yass, who co

0:13:29.320 --> 0:13:32.960
<v Speaker 13>found a Siscohanna group and he has a fifteen percent

0:13:33.000 --> 0:13:35.319
<v Speaker 13>stake in BTE Dance as a suspicion that he might

0:13:35.360 --> 0:13:38.600
<v Speaker 13>be doing some things behind the scenes because he is

0:13:38.679 --> 0:13:40.640
<v Speaker 13>a considerable donor to the Republican Party.

0:13:40.880 --> 0:13:43.600
<v Speaker 2>Interesting angle there, because we've got Bloomberg News reporting as

0:13:43.640 --> 0:13:47.560
<v Speaker 2>well that former President Trump is considering yes among others,

0:13:47.600 --> 0:13:50.920
<v Speaker 2>as a potential Treasury secretary pick as he wins the

0:13:50.920 --> 0:13:53.120
<v Speaker 2>White House or if he does win the White House.

0:13:53.559 --> 0:13:56.760
<v Speaker 2>But putting that aside, there's also this concern that's been

0:13:56.880 --> 0:14:01.720
<v Speaker 2>raised by supporters of this bill that TikTok's data is

0:14:01.880 --> 0:14:05.280
<v Speaker 2>beholden to the Chinese Communist Party. Is there clear evidence

0:14:05.360 --> 0:14:05.800
<v Speaker 2>behind that?

0:14:06.960 --> 0:14:09.319
<v Speaker 13>So there are two ways of considering this. There's the

0:14:10.320 --> 0:14:13.200
<v Speaker 13>data about people's browsing patterns, what they look at, what

0:14:13.240 --> 0:14:18.480
<v Speaker 13>they buy, and there's the way that the decisions on

0:14:18.559 --> 0:14:22.000
<v Speaker 13>what content is served to people now, we don't have

0:14:22.280 --> 0:14:27.520
<v Speaker 13>any proof or evidence that China is actually directly influencing that,

0:14:28.040 --> 0:14:31.400
<v Speaker 13>but we can see some proof points. Namely, there was

0:14:31.440 --> 0:14:34.280
<v Speaker 13>a study a few months ago which showed that if

0:14:34.320 --> 0:14:41.160
<v Speaker 13>you search for, for instance, tiananmen on TikTok compared to Instagram,

0:14:42.000 --> 0:14:44.400
<v Speaker 13>it serfaces far more results on Instagram than it does

0:14:44.400 --> 0:14:47.600
<v Speaker 13>on TikTok. So we don't know if that's a conscious decision,

0:14:47.600 --> 0:14:49.760
<v Speaker 13>if there are other factors at play, but we can

0:14:49.800 --> 0:14:54.400
<v Speaker 13>see the end result of whatever content decisions might be

0:14:54.400 --> 0:14:57.480
<v Speaker 13>being taken at TikTok, And those are the sort of

0:14:57.480 --> 0:14:58.760
<v Speaker 13>things that get people a little worried.

0:14:59.280 --> 0:15:02.920
<v Speaker 2>What's the potent shall impact Alex if this bill were

0:15:02.960 --> 0:15:07.760
<v Speaker 2>to pass and TikTok were to divest. Are there potential

0:15:07.800 --> 0:15:10.920
<v Speaker 2>buyers out there for TikTok if by Dance were forced

0:15:10.920 --> 0:15:11.520
<v Speaker 2>to sell.

0:15:11.520 --> 0:15:13.080
<v Speaker 13>Yeah, because that's the key thing here. It's like is

0:15:13.080 --> 0:15:14.480
<v Speaker 13>it going to be shut down or is it going

0:15:14.480 --> 0:15:17.600
<v Speaker 13>to be divested. Don't forget that this did come up

0:15:18.240 --> 0:15:24.680
<v Speaker 13>five six years ago when Trump was the president. There

0:15:24.680 --> 0:15:26.880
<v Speaker 13>were lots of potential buyers in the US. We had

0:15:27.000 --> 0:15:30.240
<v Speaker 13>names like Oracle, we had Microsoft, and lots of big

0:15:30.280 --> 0:15:34.520
<v Speaker 13>tech companies in particular who don't necessarily have a social

0:15:34.560 --> 0:15:37.440
<v Speaker 13>media armed. The thing that a lot of people find

0:15:37.520 --> 0:15:40.440
<v Speaker 13>hyper compelling about TikTok is the ability to plug it

0:15:40.480 --> 0:15:45.800
<v Speaker 13>onto the front of actually an advertising or e commerce

0:15:45.880 --> 0:15:49.760
<v Speaker 13>business that you can use it to drive that alternative revenue.

0:15:49.800 --> 0:15:53.200
<v Speaker 13>Like TikTok has an advertising business, it is still far

0:15:53.360 --> 0:15:58.080
<v Speaker 13>early in its evolution than that of Google or alphabet

0:15:58.120 --> 0:16:02.320
<v Speaker 13>that is, or of Meta, but that also provides a

0:16:02.400 --> 0:16:04.600
<v Speaker 13>huge amount of upside if you're able to plug a

0:16:04.640 --> 0:16:08.200
<v Speaker 13>sophisticated existing advertising business into the back of it, and

0:16:08.240 --> 0:16:10.360
<v Speaker 13>so that's where people might spin opportunity.

0:16:13.600 --> 0:16:16.680
<v Speaker 14>This is Bloomberg Daybreak Today, your morning brief on the

0:16:16.720 --> 0:16:20.120
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0:16:20.400 --> 0:16:23.160
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0:16:26.960 --> 0:16:28.160
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0:17:01.120 --> 0:17:03.640
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