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

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Speaker 1: Doug Prisner. After several days of humanitarian aid flowing into Gaza,

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Speaker 1: today some foreigners were allowed to leave. Among those allowed

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Speaker 1: to exit into Egypt through the Rafa crossing were several Americans.

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Speaker 1: Here's President Biden.

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Speaker 2: American citizens are able to exit today as part of

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Speaker 2: the first group of probably over a thousand. We'll see

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Speaker 2: more of this process going on in.

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Speaker 1: The coming days, that is President Biden. He went on

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Speaker 1: to say the exits were made possible through days of

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Speaker 1: intense negotiations. The House GOP proposal on funding for Israel

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Speaker 1: cuts funding for the IRS the Congressional Budget Offices, saying

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Speaker 1: the plan will add to the US deficit over the

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Speaker 1: next decade. This contradicts the assertions of the new House

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Speaker 1: Speaker that the bill would pay for itself. Here's Bill

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Speaker 1: Hoagland of the Bipartisan Policy Center.

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Speaker 3: One of them.

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Speaker 2: Remain optimistic that we will get through this difficult time.

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Speaker 2: There are major issues that have to be addressed here,

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Speaker 2: and I hope that we can find a common ground

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Speaker 2: between the House and Senator over the next at least

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Speaker 2: thirty forty days.

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Speaker 1: That is Bill Hoagland. From the Bipartisan Policy Center. The

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Speaker 1: next government shut down deadline is November seventeenth. The US

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Speaker 1: is set to hold nuclear arms control talks with China

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Speaker 1: given growing concerns over Beijing's accelerated push to build up

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Speaker 1: its arsenal. Low level discussions are scheduled to begin next week.

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Speaker 1: A Biden administration official is saying the objective is not

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Speaker 1: to reduce the size of China's arsenal, rather to give

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Speaker 1: the Biden administration a better understanding of China's plans. The

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Speaker 1: FED held its key infrast rate steady today for a

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Speaker 1: second straight meeting. At the news conference, chair J. Powell

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Speaker 1: said financial conditions of titans significantly in recent months, driven

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Speaker 1: by higher long term bond yields, and he said previous

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Speaker 1: FED rate hikes are putting downward pressure on both the

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Speaker 1: economy and inflation. And Powell went on to say the

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Speaker 1: full effects of tightening have yet to be felt.

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Speaker 4: Given how far we have come, along with the uncertainties

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Speaker 4: and risks we face, the Committee is proceeding carefully. We

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Speaker 4: will make decisions about the extent of additional policy firming

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Speaker 4: and how long policy will remain restrictive based on the

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Speaker 4: totality of the incoming data, the evolving outlook, and the

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Speaker 4: balance of risks.

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Speaker 1: That is fetchher J. Powell. Now the Fed will meet

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Speaker 1: once more this year, December twelfth and thirteenth. The US

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Speaker 1: Treasury is increasing planned sales of US debt. However, the

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Speaker 1: overall level of issuance is slightly below what most dealers

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Speaker 1: were expecting. Here's Bloomberg's Michael McKee.

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Speaker 5: The quarterly increase that we get is basically concentrated at

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Speaker 5: the law at the short end, which makes sense since

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Speaker 5: long end rates have gone up. The problem, of course

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Speaker 5: for the Treasury Department is that people are criticizing them

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Speaker 5: for not turning out earlier. They have to pay more,

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Speaker 5: so they are kind of locked in here at the

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Speaker 5: higher rates rather than being able to take advantage of

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Speaker 5: any falling rates, and they do so say that this

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Speaker 5: may be the end of it in terms of raising

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Speaker 5: auction sizes.

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Speaker 1: That's Bloomberg's Michael McKee. Congressman George Santos has survived an

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Speaker 1: attempt by his fellow New York Republicans to expel him

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Speaker 1: from the House of Representatives. More from Bloomberg's Ed Baxter.

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Speaker 6: Most House Republicans opted to withhold punishment as both his

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Speaker 6: criminal trial and House Ethics Committee investigation proceed Santos very defiant.

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Speaker 3: Mister Speaker, efforts taken by other members in this body

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Speaker 3: to act as judge, jury and executioner are unconscionable and

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Speaker 3: reckless to our Republican system of government and to the

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Speaker 3: integrity of this body.

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Speaker 6: The vote wasn't close, one hundred and seventy nine to

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Speaker 6: four expulsion two hundred and thirteen against. A two thirds

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Speaker 6: vote was required. Ed Baxter, Bloomberg Radio.

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Speaker 1: After the bell, Qualcomm gave an upbeat revenue forecast for

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Speaker 1: the current quarter. The company is the largest seller of

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Speaker 1: smartphone chips. It said sales will be between nine point

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Speaker 1: one to nine points point nine billion. Now the midpoint

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Speaker 1: of that range nine to a half billion, is well

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Speaker 1: ahead of analyst estamates. Here's Bloomberg's CU John Sobanni.

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Speaker 7: Coming into the quarter. You know, it was pretty clear

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Speaker 7: that the smartphone market has bottomed. Customers have been drawing

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Speaker 7: down inventory for a few quarters.

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Speaker 6: Now.

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Speaker 7: What was uncertain was the speed and the size of

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Speaker 7: the expected market snapback. I mean, the results came in

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Speaker 7: slightly above but on a handset and a QTL side,

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Speaker 7: they were kind of in line, that.

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Speaker 1: Is, Bloomberg's cu John Sobani. Qualcom shares were up three

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Speaker 1: percent in late US trading. Disney is expecting to pay

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Speaker 1: at least eight point six one billion dollars to Comcast

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Speaker 1: to buy the third of Hulu it doesn't already own.

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Speaker 1: More from Bloomberg's Denise Pellegrini.

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Speaker 8: You know, it's not actually really clear what the final

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Speaker 8: price for the stake will actually be, because today just

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Speaker 8: marks the start of negotiations over the price. Under a

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Speaker 8: previous deal between the companies, the total value of Hulu

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Speaker 8: would be no less than twenty seven and a half

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Speaker 8: billion dollars minus any capital contributions payable by Comcast to Disney.

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Speaker 8: That the thing is, Hulu has about fifty million subscribers now,

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Speaker 8: and Comcast CEO says the value of the company is

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Speaker 8: now far higher than when the deal was agreed to.

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Speaker 8: The final price that Disney pays for this one third

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Speaker 8: stake of Hulu will be settled through an appraisal process

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Speaker 8: and is likely to involve up to three investment banks.

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Speaker 8: Disney expects a deal to be completed next year. Denise Pellegrini,

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Speaker 8: Bloomberg Radio.

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

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Speaker 1: News Now, I'm Doug Chrisner, and this is Bloomberg