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Speaker 1: Good morning.

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Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 2: stories we're following today. First, the latest from the Middle East.

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Speaker 2: Shipping through the Red Sea has ground to a halt,

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Speaker 2: with oil tankers and cargo vessels coming under greater attack

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Speaker 2: from Houthi militants in Yemen. Now, the US is setting

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Speaker 2: up a new task force to protect vessels in that

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Speaker 2: vital shipping lane. Defense Secretary Lloyd Austin announced the effort

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Speaker 2: in a speech to troops in Bahrain.

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Speaker 3: These attacks are reckless, dangerous, and they violate international law,

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Speaker 3: and so we're taking action to build an international coalition

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Speaker 3: to address this threat. And I would remind you that

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Speaker 3: this is not just a US issue. This is an

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Speaker 3: international problem and it deserves an international response.

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Speaker 1: And Defense Secretary Lloyd Austin says that international response is

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Speaker 1: called Operation Prosperity Guardian includes nearly a dozen other nations.

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Speaker 1: Oil giants BP and Equinor are the latest to pause

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Speaker 1: shipping through the Red Sea due to the Hoothy attacks.

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Speaker 2: Well, Nathan votes on aid to both Israel and Ukraine

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Speaker 2: may have to wait until next year after Senate Republicans

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Speaker 2: close the door on a quick deal on border security,

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Speaker 2: and Bloomberg's Amy Morris has the details from Washington.

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Speaker 4: Senate Majority leader Chuck Schumer had said a vote could

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Speaker 4: come this week, but John Thune, the number two Senate Republican,

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Speaker 4: says negotiators were not able to resolve sticking points during

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Speaker 4: talks over the weekend and that a vote on the

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Speaker 4: border deal is quote not going to happen now. While

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Speaker 4: it's possible the parties can reach a deal in principle

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Speaker 4: by the end of this week, that only tees up

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Speaker 4: votes on the legislation by the first or second week

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Speaker 4: of January. The Pentagon has said it will run out

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Speaker 4: of money to replace US weapons sent to Ukraine unless

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Speaker 4: Congress approves new funding before December thirtieth. In Washington, Amy Morris,

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Speaker 4: Bloomberg Radio.

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Speaker 1: All right, Amy, thank you. Elsewhere in geopolitics, the US

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Speaker 1: is extending a truce with the European Union on steel

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Speaker 1: and aluminum imports. Let's go to London and get the

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Speaker 1: latest one that from Bloomberg's Un Potts.

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Speaker 5: Good morning, Ewan, Nathan and Amy. The European Commission is

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Speaker 5: to suspend RATTACH remeasures implemented during the Trump presidency for

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Speaker 5: the next fifteen months. The truce on steel and aluminum

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Speaker 5: imports avoids a possible return of billions of dollars of

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Speaker 5: tariffs on trade across the Atlantic, but the EU says

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Speaker 5: it has not convinced Washington to improve its current quota system.

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Speaker 5: Today's announcement comes as the clock ticks on negotiations for

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Speaker 5: a permanent deal on trade in metals. In London, I'm

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Speaker 5: your imports, Bloomberg Radio.

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Speaker 2: Sright you and thank you. In Asia, the yen is

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Speaker 2: slumping after the Bank of Japan stuck with the world's

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Speaker 2: last and negative interest rate and left its policy rate

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Speaker 2: unchanged and appeared in no hurry to remove its negative

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Speaker 2: rate regime. Checking the en right now weaker against the

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Speaker 2: dollar at one forty four point five to four.

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Speaker 1: Nice for the US Central Bank Karen More. Fed officials

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Speaker 1: are pushing back at market expectations for rate cuts. Three

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Speaker 1: more voting members of the Fed's Policy Setting Committee are

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Speaker 1: suggesting the talk of decreases in early twenty twenty four

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Speaker 1: is premature. Bloomberg Opinion columnist and former New York Fed

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Speaker 1: President Bill Dudley says there's a risk the market is wrong.

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Speaker 6: The market may begin a little bit ahead of itself.

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Speaker 6: This is how Paul thinks the world is going to evolve.

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Speaker 6: Paul thinks the face to be cutting rates in twenty

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Speaker 6: twenty four. But it's possible that the comic could be

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Speaker 6: firmer for longer, inflation could be more stubborn, and the

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Speaker 6: rate cuts might not actually turn out to materialist.

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Speaker 1: For those words from Bill Dudley, Commas policymakers Lorettamester and

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Speaker 1: Mary Daily said in separate interviews that markets were vetting

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Speaker 1: on a pivot too early.

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Speaker 2: Well in corporate news now, Nathan Apple is racing around

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Speaker 2: the clock to implement a workaround after a patent dispute

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Speaker 2: forced it to band sales of its latest smart watches

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Speaker 2: in the US ahead of Christmas. The rescue mission for

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Speaker 2: its seventeen billion dollar business comes after medical device maker

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Speaker 2: Mausimo argued a blood oxygen sensor on the watch infringes

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Speaker 2: its patents. Gene Munster, managing partner at deep Water Asset Management,

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Speaker 2: says it's a major blow to Apple.

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Speaker 7: Five percent of their total revenue comes from watch. It's

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Speaker 7: growing at call it ten to fifteen percent year every year,

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Speaker 7: which is much faster than the iPhone, which is basically

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Speaker 7: flatish year on year and most important only as watch

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Speaker 7: is kind of central to Apple's health and wellness initiatives.

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Speaker 7: This device in innovating around the watch like this oxygen

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Speaker 7: sensor is an important part of that story.

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Speaker 2: Gene Munster says Apple plans to stop selling the prohibited

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Speaker 2: watches on its website on Thursday.

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Speaker 1: Well, Karen, another tech heavyweight is in the spotlight. Alphabet

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Speaker 1: has agreed to resolve antitrust complaints from about three dozen states.

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Speaker 1: We get that story from Bloomberg's Jeff Bellinger.

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Speaker 8: The technology company will pay seven hundred million dollars and

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Speaker 8: make changes to its Google Play policies. The changes will

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Speaker 8: be designed to reduce barriers to competition among app distributors

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Speaker 8: and payment processors. The state ags had accused Google of

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Speaker 8: using anti competitive tactics that left developers no choice but

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Speaker 8: to go through the Google Play Store to reach users.

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Speaker 8: A tentative settlement was reached back in September. The latest

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Speaker 8: filing says all fifty states have now joined the agreement.

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Speaker 8: Jeff Bellinger, Bloomberg Radio, Jeff, thank you well.

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Speaker 2: Bloomberg News has learned billionaire Carl Icon plans to launch

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Speaker 2: a new proxy fight to take control of Aluminus board.

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Speaker 2: That's after the company terminated at seven billion dollar acquisition

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Speaker 2: of Grail. We get the story from Bloomberg's Charlie Pellett.

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Speaker 9: Sources say Icon believes the board should be held accountable

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Speaker 9: for pursuing an ill advised transaction. They say Icon could

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Speaker 9: nominate as many as seven candidates for the currently eleven

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Speaker 9: member board. The sources say voting on nominees would take

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Speaker 9: place at next year's annual general meeting. Icon criticized a

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Speaker 9: Luminus board in a letter after the announcement of the

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Speaker 9: Grail divestiture plan in New York. Charlie Pellett Bloomberg Radio.

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Speaker 1: More global headlines in a check of sports. Up next,

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Speaker 1: you're listening to Bloomberg Daybreak.

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Speaker 2: All right, Nathan, Thanks, it's time now for a look

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Speaker 2: at some of the other stories making news around the world.

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Speaker 2: And for that we're joined by Bloomberg's Amy Morris.

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Speaker 4: Amy, good morning, Good morning, and Vice President Kamala Harris

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Speaker 4: is ready to kick off a contentious election year with

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Speaker 4: a national tour focused on protecting abortion rights. Harris has

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Speaker 4: largely been the face of the White House on abortion rights.

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Speaker 4: This stretch of events begins in battleground state Wisconsin on

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Speaker 4: January twenty second, that's the anniversary of Roe v. Wade.

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Speaker 4: Critics say controversial border security legislation signed by Texas Governor

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Speaker 4: Greg Abbott yesterday could lead to the mass arrests of migrants.

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Speaker 4: The governor says the goal of Senate Bill four is

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Speaker 4: to stop illegal entry into the US.

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Speaker 10: For repeat offenders. That creates the offense of illegal re

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Speaker 10: entry with a potential prison Senate's term of up to

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Speaker 10: twenty years.

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Speaker 4: The ACLU plans a lawsuit over the legislation. The judge

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Speaker 4: in Donald Trump's New York civil fraud trial has denied

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Speaker 4: the instant win that Trump was seeking. Bloomberg's Ed Baxter explains.

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Speaker 11: In the denial, Justice Arthur Engern criticized that Trump defense

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Speaker 11: and suggested the star witness was motivated by money. He

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Speaker 11: said the motion ignored significant evidence of wrongdoing and rehashed

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Speaker 11: old arguments, The justice saying the star witness proves that

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Speaker 11: for a million dollars or so, some experts will say

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Speaker 11: whatever you want them to say. New York professor Eli

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Speaker 11: Bartoff was paid more than thirteen hundred dollars an hour

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Speaker 11: for his work on the case. Totaling at least eight

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Speaker 11: hundred and seventy seven five hundred dollars. Trump's Attartey say

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Speaker 11: that justice ignored real facts for real participants in the

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Speaker 11: real world. Closing Arguments, January eleventh, Ed Baxter, Bloomberg Radio.

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Speaker 4: There remains some hesitancy about the COVID shot, but a

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Speaker 4: new study show's parents are eager and willing to get

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Speaker 4: their kids vaccinated against RSV. Doctor Simon Hayter at the

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Speaker 4: School of Public Health at Texas A and M says

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Speaker 4: it's because stories, rather showing the virus' effects, are all

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Speaker 4: over social media.

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Speaker 7: Every parent of a young child that's heard, I think

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Speaker 7: a horror story of someone else's child getting really sick.

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Speaker 4: Doctor Hayter's study found more than seventy percent of American

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Speaker 4: parents planned to have their children vaccinated against RSV, but

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Speaker 4: only forty percent tend to get their kids the COVID

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Speaker 4: shot and the late Justice Sandrade O'Connor is set to

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Speaker 4: be laid to rest today. The funeral for O'Connor will

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Speaker 4: be held at Washington National Cathedral, where President Biden and

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Speaker 4: Chief Justice John Roberts are scheduled to speak. She was

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Speaker 4: honored at the Supreme Court yesterday, where she lighted Repose

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Speaker 4: inside the building's Great Hall. Global news twenty four hours

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Speaker 4: a day and whenever you want it with Bloomberg News Now.

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Speaker 4: I'm Amy Morris and this is Bloomberg Karen right.

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Speaker 2: Amy. Thanks. So we do bring you news throughout the

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Speaker 2: day right here on Bloomberg Radio. But now you can

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Speaker 2: get the latest news on demand, and that means whenever

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Speaker 2: you want it. Just subscribe to Bloomberg and News Now

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Speaker 2: You can get informed on your schedule. You can listen

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Speaker 2: and subscribe to Bloomberg and News Now on the Bloomberg

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Speaker 2: Business app, Bloomberg dot Com, plus apples, Spotify, and anywhere

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Speaker 2: else you get your podcasts. Time now for the Bloomberg

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Speaker 2: Sports Update with John stash Hour John Carron.

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Speaker 10: A couple of teams in need of victory last night.

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Speaker 10: The Seahawks had lost four in a row to dropped

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Speaker 10: under five under. The Eagles had lost their last two.

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Speaker 10: Philly led ten to nothing, then seventeen ten in the

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Speaker 10: fourth quarter with only twenty eight seconds remaining. A Drew

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Speaker 10: Lock touchdown pass. He was playing for the injured Gito

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Speaker 10: Smith twenty nine yards that Jason Smith and Jigba Seattle

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Speaker 10: won twenty to seventeen. Jayden Daniels turning pro rather than

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Speaker 10: returning for a final season at the LSU. He just

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Speaker 10: won the Heisman Trophies. Expected to be a top draft pick.

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Speaker 10: He also won't play in LSU's upcoming Bowl game in La.

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Speaker 10: The Lakers hoisted a banner for winning the in season tournament,

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Speaker 10: but since then they're one in three. Had an embarrassing

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Speaker 10: loss to San Antonio, and they lost it home to

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Speaker 10: the to the next one fourteen to one oh nine,

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Speaker 10: and Lebron James in defeat twenty five points and his

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Speaker 10: one hundred and ninth career triple double Wizard dropped a

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Speaker 10: four and twenty two. They lost one forty three to

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Speaker 10: one point thirty one at Sacramento. They're at least better

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Speaker 10: than the Pistons, who have lost twenty four games in

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Speaker 10: a row. They fell in Atlanta. Cade Cunningham did scored

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Speaker 10: forty three points in the loss. Meanwhile, Minnesota tied with

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Speaker 10: the Celtics with the best record in the NBA thirty

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Speaker 10: two points for Anthony Edwards and a Timberwolves win in Miami.

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Speaker 10: Eric Montross has passed away at the age of only

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Speaker 10: fifty two. We got cancered just this past March. Help

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Speaker 10: North Carolina with a national championship in nineteen ninety three.

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Speaker 10: Was the ninth pick of the ninety four draft, blowing

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Speaker 10: to the Celtics. Also played for the next and.

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Speaker 12: Four years with the Pistons.

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Speaker 10: John Stashiewer Bloomberg.

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Speaker 12: Sports from coast to coast, from New York to San Francisco,

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Speaker 12: Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business

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Speaker 12: app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning,

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Speaker 12: I'm Nathan Hager.

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Speaker 1: Israel's war with Hamas is proving difficult to keep contained

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Speaker 1: to the Gaza Strip. Attacks on commercial vessels in the

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Speaker 1: Red Sea now have shipping in that key supply line

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Speaker 1: now essentially ground to a halt. A halt on new

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Speaker 1: aid to Ukraine in the US and Europe now has

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Speaker 1: the West grappling with an idea that would have been

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Speaker 1: unthinkable just a few months ago. What if Russia wins

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Speaker 1: difficult geopolitics all around, and here to discuss it with

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Speaker 1: US as Julie Norman, co director of the Center on

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Speaker 1: US Politics at University College, London. Julie, it's good to

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Speaker 1: speak with you this morning. But as I mentioned, it

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Speaker 1: is getting difficult in the Middle East and in the

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Speaker 1: war in Ukraine. How is this response to increased attacks

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Speaker 1: on the Red Sea going to make an impact? Do

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Speaker 1: you see a task force being enough based on what's

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Speaker 1: been happening with shipping in that region?

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Speaker 11: Sure?

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Speaker 13: Well, thanks Nathan. Well absolutely, you know, most eyes have

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Speaker 13: rightly been on Gaza, but the rest of the region

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Speaker 13: has certainly not been quiet. And one area where that

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Speaker 13: has not been is in the Red Sea, and we've

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Speaker 13: seen that with literally dozens of attacks, mostly from the

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Speaker 13: Huti group based in Yemen, on shipping through that extremely

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Speaker 13: key waterway. So this is something that the US did

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Speaker 13: have to, i think respond to. They are trying to

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Speaker 13: avoid a larger armed conflict in the region. They're trying

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Speaker 13: to avoid, you know, hitting back at the houties militarily,

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Speaker 13: but they are trying to ensure that shipping can continue,

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Speaker 13: that the international economy is not more disrupted than it

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Speaker 13: needs to be, and that you know, both businesses and

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Speaker 13: allies in the region feel safe with conducting business. So

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Speaker 13: I think this is an important first step. It'll be

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Speaker 13: interesting to see if it's enough, but they definitely needed

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Speaker 13: to do something.

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Speaker 1: Now what connect steps potentially look like With the kind

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Speaker 1: of coalition that Defense Secretary Austin has said is going

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Speaker 1: to be rallying around protection of the Red Sea, could

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Speaker 1: it have an impact on the war in Gaza?

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Speaker 13: Well, I think it might. I mean, this is really

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Speaker 13: the task force is really to try and protect shipping,

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Speaker 13: you know, mostly oil shipments, you know, a cargo everything

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Speaker 13: that's going through the Red Sea, which is I think

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Speaker 13: about thirty percent of world trade. So it's good to

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Speaker 13: be important for that. I think in terms of the

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Speaker 13: larger region, it'll be interesting to see. There's a lot

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Speaker 13: of moving parts. One reason that I think some Arab

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Speaker 13: states have been a little hesitant to publicly get on

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Speaker 13: board with this is they are, I'm trying to fine

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Speaker 13: tune their own and to a war going on in

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Speaker 13: Yemen right now. So there's a lot of moving pieces

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Speaker 13: that we're trying to keep in place. What I do

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Speaker 13: think this will do is again hopefully try and contain

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Speaker 13: the Huti's keep this from becoming a larger conflagration. But

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Speaker 13: in terms of its impact on Gaza, I think that

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Speaker 13: might be somewhat minimal. I mean, that's a conflict that's

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Speaker 13: playing out in its own terms within the Gaza strip

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Speaker 13: in Israel.

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Speaker 1: I want to talk to you as well about the

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Speaker 1: difficulties getting new aid to Ukraine pass. We've been focused

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Speaker 1: on the negotiations in the Senate and of course in

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Speaker 1: the European Union. There's been that stall out with Hungary's

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Speaker 1: Prime Minister keeping European aid flowing in. What's the potential

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Speaker 1: impact if Ukraine doesn't get this aid that it's been

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Speaker 1: looking for before the new year.

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Speaker 13: Yeah, Well, we know that Ukraine has been very reliant

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Speaker 13: on the external aid, largely from the US, but also

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Speaker 13: from other allies and including the European Union. So the

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Speaker 13: fact that both of those sources seem to be drying

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Speaker 13: up simultaneously does not bode well for Kiev. We've already

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Speaker 13: heard reports today about having to redistribute some of the

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Speaker 13: equipment that's already there, trying to rethink some of the plans.

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Speaker 13: So again, this is something that I think Kiev knew

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Speaker 13: might be coming. But with that said, it's going to

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Speaker 13: be difficult for them to adjust to this militarily. I

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Speaker 13: will say, Biden and the Biden administration, I think is

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Speaker 13: still very committed to trying to get this aid through.

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Speaker 13: It doesn't look like it will be through by Christmas,

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Speaker 13: but it looks like negotiations will continue and there might

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Speaker 13: be something on the table by January. But it is

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Speaker 13: going to be a break in a little bit of

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Speaker 13: a lull for Ukraine right now, and it's going to

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Speaker 13: be very difficult for them to plan how to move

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Speaker 13: forward without that.

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Speaker 1: What about the potential impact on the battle. We know

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Speaker 1: Russia's military has been pretty significantly depleted by this war,

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Speaker 1: but it's been playing a strategy of waiting the West out.

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Speaker 1: I mean there is a concern, isn't there among Ukraine's

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Speaker 1: allies that Russia could wait the West out?

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Speaker 13: Oh? Absolutely, I think that's an extremely Prussian concern right now.

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Speaker 13: And it's true that Russia has weathered many losses, but

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Speaker 13: they continue to just keep pushing people to the front,

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Speaker 13: and they've also been very savvy and turning around their

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Speaker 13: own domestic production to be able to fuel the war

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Speaker 13: machine in a way that, of course just Kiv hasn't

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Speaker 13: been able to do. So I would say that Russia

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Speaker 13: right now is playing that hard. They're going to try

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Speaker 13: and wait it out. They do obviously, like everyone that

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Speaker 13: the US has elections this year, they're trying to wait

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Speaker 13: that out too. So I think right now this is

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Speaker 13: putin just waiting back and taking advantage of the situation,

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Speaker 13: and the KIV is definitely on the back foot going

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Speaker 13: into the new year.

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