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

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Speaker 1: Larry Kofski. The Supreme Court says it will not immediately

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Speaker 1: take up a plea by Special Counsel Jack Smith to

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Speaker 1: rule on whether former President Trump can be prosecuted for

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Speaker 1: his actions to overturn the twenty twenty election results. Bloomberg

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Speaker 1: Supreme Court reporter Greg Store says the decision gives a

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Speaker 1: lower court the chance to have it say first.

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Speaker 2: Quator Appeals for the DC Circuit is planning to hold

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Speaker 2: arguments on a very expedited schedule, hearing arguments on January

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Speaker 2: the ninth, So the Supreme Court knows that it won't

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Speaker 2: be too long before they have another chance at this,

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Speaker 2: so that that undoubtedly is part of their thinking. They're

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Speaker 2: looking at the calendar and thinking, that won't be that

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Speaker 2: long before we have a chance, and then we can

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Speaker 2: do it in the normal course and we can consider

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Speaker 2: what these judges on the Appeals Court say about the issue.

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Speaker 1: The justices did not offer any explanation or public dissent.

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Speaker 1: The UN Security Council has passed the resolution calling for

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Speaker 1: increase date into the Gaza strip, but stops short of

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Speaker 1: demanding a ceasefire between Israel and Hamas Secretary General Antonio

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Speaker 1: gu Terras spoke to reporters after the vote.

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Speaker 3: We are favorable to any pause that can lead to

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Speaker 3: improvement in humanitarian age and to the exchange of prisoners,

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Speaker 3: and we know that negotiations are taking place.

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Speaker 1: The US and Russia abstained from voting on the resolution.

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Speaker 1: The remaining thirteen members of the Security Council voted in favor.

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Speaker 1: The vote was delayed several times to craft language that

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Speaker 1: would not trigger a US veto. The chaos impacting shipping

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Speaker 1: through the Red Sea could last for months. Mersk, the

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Speaker 1: world's second largest container line, posted a notice showing fifteen

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Speaker 1: affected container line routes between Asia and Europe and from

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Speaker 1: the East coast of the US to the Middle East.

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Speaker 1: Tim Huxley, chairman and CEO of Mandarin Shipping, says he

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Speaker 1: expects shipping rates to rise as a result of the disruption.

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Speaker 4: Twelve percent of global trade goes through the sus Canal

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Speaker 4: blockage there is going to be pretty significant and they

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Speaker 4: will lead if this goes on for a long time,

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Speaker 4: because you now got certainly in the container sector, seventy

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Speaker 4: percent of the world's container lines have said we're not

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Speaker 4: going in there and they're going to reroot round the cape,

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Speaker 4: so that will have a significant impact on trade.

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Speaker 1: More than one hundred container ships are said to be

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Speaker 1: taking the long route around the Cape of Good Hope

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Speaker 1: to avoid the risk of attack by Huti militants and Yemen.

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Speaker 1: The extra costs and delays pose risks to the global economy.

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Speaker 1: Just as inflation looks set to be cooling, the latest

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Speaker 1: look at the Fed's preferred inflation indicator shows the battle

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Speaker 1: against rising prices is being one. The personal consumption Expenditures

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Speaker 1: price index fell a tenth of a percent last month

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Speaker 1: and was up one tenth excluding food and energy. President

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Speaker 1: Biden's top economic advisor, Layel Brainerd tells Bloomberg TV. It's

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Speaker 1: an encouraging reading.

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Speaker 5: It is really good to see that we're closing out

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Speaker 5: the year with inflation on a six month basis at

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Speaker 5: two percent. That's the pre pandemic benchmark and it's a

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Speaker 5: very significant milestone.

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Speaker 1: Separately, Brandon says the plan takeover of US Steel by

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Speaker 1: Japan's Nippon Steel should be reviewed from the perspective of

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Speaker 1: national security and supply chain resilience. Wall Street headed into

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Speaker 1: the long Christmas weekend with a choppy session that saw

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Speaker 1: the Dow fall slightly and the S ANDP in Nasdaq

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Speaker 1: rise a bit. The SNP made it eight consecutive winning weeks,

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Speaker 1: the longest such string in more than five years. Apple

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Speaker 1: is scrambling to catch up with its rivals and the

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Speaker 1: race to develop generative artificial intelligence. Sources say the company

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Speaker 1: has floated multi year deals worth at least fifty million

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Speaker 1: dollars with organizations including Condonast, NBC News and IAC, owner

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Speaker 1: of People, The Daily Beast and Better Homes and Gardens.

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Speaker 1: It hopes to license their archives to train its AI systems.

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Speaker 1: How much do you owe on your credit cards? The

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Speaker 1: New York Fed says credit card ballance unces rose by

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Speaker 1: forty eight billion dollars in the third quarter. That pushed

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Speaker 1: the total past one trillion. And that's news when you

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Speaker 1: wanted with Bloomberg News. Now, I'm Larry Kofski. This is

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Speaker 1: Bloomberg