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

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Speaker 1: Doug Krisner. Chinese officials are evaluating the possible sale of

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Speaker 1: TikTok's US operations to Elon Musk. We are told its

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Speaker 1: one option being explored, as TikTok faces a deadline of

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Speaker 1: January nineteenth to find a US buyer in order to

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Speaker 1: keep operating in the US or the app will be banned.

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Speaker 1: Now we are told that Beijing strongly prefers that TikTok

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Speaker 1: remain under the ownership of parent company byt Dance. Even so,

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Speaker 1: Chinese officials at the senior level have been debating contingency

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Speaker 1: plans for TikTok, and under one scenario, Elon Musk's X,

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Speaker 1: the former Twitter, would take control of TikTok us and

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Speaker 1: run the businesses together. Here is Bloomberg's Annabel Droolers.

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Speaker 2: TikTok's fate isn't necessarily in Bytedance's sole control either, because

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Speaker 2: the Chinese government has a so called golden sheet in

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Speaker 2: the by Dance affiliate that does give it influence over

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Speaker 2: the company's strategy and its operations. And even though TikTok

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Speaker 2: maintains that the control only applies to its Chinese operations.

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Speaker 2: Beijing still does have export rules that prevent Chinese companies

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Speaker 2: from selling their software algorithms.

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Speaker 1: That is Bloomberg's Anabel Droolers reporting now. Last week, the

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Speaker 1: US Supreme Court signaled it is likely to uphold that

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Speaker 1: US law banning the app in the United States under

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Speaker 1: national security grounds. We go to Los Angeles next, where

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Speaker 1: those wildfires rage on, and the parent company of the

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Speaker 1: region's primary electric provider has been hit with a lawsuit.

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Speaker 1: This complaint alleges that a southern California Edison utility poll

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Speaker 1: holding power lines was the cause of the Eton fire,

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Speaker 1: and the suit also alleges the company did not properly

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Speaker 1: maintain its electrical infrastructure. Pedro Pisaro is president and CEO

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Speaker 1: of the parent company, Edison International.

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Speaker 3: We have telemetry, we have the voltages to Currence. We've

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Speaker 3: monitored all of that. We have not seen any of

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Speaker 3: the signatures that you typically see when a line causes fire,

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Speaker 3: but again we have not been able to get up close,

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Speaker 3: and so we want to do that with assistance from investigators,

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Speaker 3: and we'll be transparent with the public if we find something.

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Speaker 1: That is Edison International's Pedro Posaro, speaking earlier to Bloomberg.

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Speaker 1: Now this suit is believed to be the first of

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Speaker 1: what's expected to be thousands of legal claims tied to

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Speaker 1: the fire, which is only partially contained. North Korea has

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Speaker 1: fired several short range missiles into waters off its east coast.

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Speaker 1: The missiles were launched at around nine thirty am local

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Speaker 1: time from Jagang Province, near the border with China. South

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Speaker 1: Korea's Defense ministry says the missiles flew about two hundred

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Speaker 1: and fifty kilometers that's about one hundred and fifty five

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Speaker 1: miles before landing in the waters. Canada is bracing for

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Speaker 1: tariffs from the incoming Trump administration. Canada's ambassador to the US,

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Speaker 1: Kirstin Hillman, says they may lead to retaliation and that

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Speaker 1: in turn could leave both countries vulnerable to adversaries such

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Speaker 1: as China and Russia. Here is Hillman speaking earlier to Bloomberg.

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Speaker 4: Canada's the number one customer of the United States. Right.

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Speaker 4: You sell more to US, to Canada and to Canadians

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Speaker 4: than to China, Japan, the UK, and France combined. So

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Speaker 4: if we end up in a sort of a tariff

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Speaker 4: back and forth, there's a lot of Americans who export

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Speaker 4: to Canada, who are going to I think be in

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Speaker 4: rough shape. So hopefully we're not going to get there,

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Speaker 4: and we're working hard to make sure we don't.

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Speaker 1: Canada's ambassador to the US, Kirsten Hillman. Now, on top

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Speaker 1: of tariff threats, Trump has drawn aire from Canadians with

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Speaker 1: quips about making Canada the fifty first state. We move

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Speaker 1: to Business News next. Sources tell Bloomberg Honeywell International is

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Speaker 1: poised to proceed with a breakup. This is after the

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Speaker 1: company faced pressure from activist Elliott Investment Management to split itself.

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Speaker 1: More from Bloomberg's Charlie Pellett.

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Speaker 5: The source to say the Charlotte, North Carolina based industrial

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Speaker 5: conglomerate is planning to split into two independent, publicly traded companies,

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Speaker 5: one focused on automation and the other on aerospace and events.

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Speaker 5: Thomas Black is a Bloomberg Opinion condonist who covers the

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Speaker 5: industrial space.

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Speaker 4: The Elliott folks and it looks like this is what's

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Speaker 4: being accepted would basically just break off that aerospace piece

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Speaker 4: and then leave the rest of the company intact.

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Speaker 5: Sources say Honeywell could formally announce the plans along with

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Speaker 5: fourth quarter earnings next month in New York Charlie Pett,

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Speaker 5: Bloomberg Radio.

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Speaker 1: Even though the Fed is expected to pause its rate

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Speaker 1: cutting cycle in January, the print on December producer prices

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Speaker 1: is not likely to instill confidence that inflation is firmly

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Speaker 1: on a downward path. Here's Bloomberg's Michael McKee with a preview.

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Speaker 6: Economists see further proof coming that disinflation has paused, if

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Speaker 6: not ended, rising monthly prices will be in significant jumps

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Speaker 6: on an annual basis, something which might scare already nervous investors.

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Speaker 6: While the PPI doesn't directly correlate to Wednesday's consumer price report,

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Speaker 6: several of its components feed into the Fed's preferred inflation indicator,

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Speaker 6: the PCE index. Bloomberg Economics sees portfolio management and airfares

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Speaker 6: continuing to drift higher, while healthcare gains are muted ahead

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Speaker 6: of January's cost resets. Michael McKee, Bloomberg Radio.

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Speaker 1: And in sports, the NFL Wildcard round has just wrapped up.

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Speaker 1: The Los Angeles Rams have beaten the Minnesota Vikings by

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Speaker 1: a score of twenty seven to nine in Arizona. Now

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Speaker 1: that game was scheduled to be played in LA, but

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Speaker 1: it was moved due to the ongoing California wildfires. The Rams.

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Speaker 1: By the way, we'll face off against the Philadelphia Eagles

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Speaker 1: next weekend in the NFC Divisional Round. And that is

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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, and this is Bloomberg