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Speaker 1: News when you wanted with Bloomberg News. Now I'm Doug prisoner.

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Speaker 1: Europe has been coming to terms with the duration of

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Speaker 1: Russia's war in Ukraine, as well as the steady deterioration

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Speaker 1: of the global trading system, especially where China is concerned. Today,

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Speaker 1: French President Emmanuel Macron said he wants a level playing

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Speaker 1: field with China. He spoke earlier with Bloomberg News editor

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Speaker 1: in chief John Micklethwaite.

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Speaker 2: What we ask for is exactly that we want to

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Speaker 2: be sure that in terms of TIFFs, subsidies, rules of production,

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Speaker 2: we have a fair competition. And I mentioned it very

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Speaker 2: openly to prison Schee. So it is not a geopolitical agenda.

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Speaker 2: We don't want to blackmail and push back some of

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Speaker 2: the production. We want to be sure it is fair.

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Speaker 2: It's fair to launch precisely inquiries and look in details

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Speaker 2: the situation and revise it.

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Speaker 1: That is French President Emmanuel Macron from the Choose France

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Speaker 1: Investment summit in Versailles, Stateside. The fourth week of witness

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Speaker 1: testimony in Donald Trump's hush money trial is underway. Today.

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Speaker 1: The prosecution star witness Michael Cohen, took the stand. This

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Speaker 1: long anticipated testimony from Trump's former lawyer and personal fixer

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Speaker 1: follows build up by prosecutors of a case that ultimately

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Speaker 1: hinges on record keeping. Trump is accused of falsifying internal

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Speaker 1: business records. The aim here was to cover up hush

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Speaker 1: money payments made by Cohen as part of efforts to

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Speaker 1: buy in bury stories that might hurt the former president's

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Speaker 1: twenty sixteen campaign. Bloomberg legal analyst June Grosso discussed the

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Speaker 1: importance of Cohen's testimony.

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Speaker 3: This is about not the hush money payments, as we've

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Speaker 3: said many times, it's about the way they were recorded

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Speaker 3: and why they were made because it's not illegal. It's

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Speaker 3: not illegal to pay hush money. So we're at that

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Speaker 3: part in his testimony, and this is important because he's

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Speaker 3: the one who's going to have to be the link

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Speaker 3: to why these payments were recorded as legal expenses and

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Speaker 3: did Trump know about them?

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Speaker 1: That is Bloomberg's June Grosso. Now, the prosecution could wrap

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Speaker 1: up its case this week, after telling the judge on Friday,

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Speaker 1: prosecutors expect to call just two more witnesses. The latest

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Speaker 1: Swing state polling shows President Biden's struggling under the weight

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Speaker 1: of the war in Gaza and the American economy. Bloomberg's

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Speaker 1: Lisa Matteo has more on surveys from The New York Times,

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Speaker 1: Siena College, and The Philadelphia Inquirer.

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Speaker 4: At Joe's Donald Trump leading President Biden five battleground states.

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Speaker 4: That's Michigan, Arizona, Nevada, Georgia and Pennsylvania. This is as

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Speaker 4: young black Hispanic voters they looking for change. They also

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Speaker 4: expressing concerns about the cost of living and also the

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Speaker 4: war in Gaza.

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Speaker 1: That is Bloomberg's Lisa Mateo. Tomorrow, financial markets will be

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Speaker 1: focused on remarks from FED shar J. Powell. Today we

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Speaker 1: heard from the FED Vice Chair of Supervision, Philip Jefferson.

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Speaker 1: He said that he finds the lack of progress on

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Speaker 1: inflation in the first quarter concerning.

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Speaker 5: In light of the attenuation in progress in terms of

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Speaker 5: getting inflation down to our target, it is appropriate that

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Speaker 5: we maintain the policy rate in restrictive territory, which it

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Speaker 5: is right now.

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Speaker 1: That is a FED Vice Chair of Philip Jefferson. Those remarks,

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Speaker 1: by the way, follow a speech in which Jefferson said

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Speaker 1: diverging comments from FED officials can lead to confusion about

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Speaker 1: the course of monetary policy. We go to Japan next,

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Speaker 1: where soft Bank is laying out plants to get a

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Speaker 1: little more aggressive when it comes to investing in artificial intelligence.

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Speaker 1: SoftBank reported fourth quarter income above the consensus estimate, a

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Speaker 1: quarterly profit of one and a half billion dollars. For

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Speaker 1: the latest quarter, soft Bank was helped by a surge

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Speaker 1: in the value of assets, and that would include ARM holdings.

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Speaker 1: It owns ninety percent of that British chip designer. Now,

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Speaker 1: a surge in the value of ARM shares lifted SoftBank's

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Speaker 1: net asset value to a record one hundred and seventy

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Speaker 1: eight billion dollars. That figure, by the way, is nearly

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Speaker 1: double the total from last year. Right now in the

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Speaker 1: Tokyo session, we have soft Bank rising one point seven percent.

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Speaker 1: Meme stock mania seems to be back. We had shares

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Speaker 1: in Game Stop jumping seventy five percent. Now. That move

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Speaker 1: followed the social media return of well known influencer Keith Gill.

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Speaker 1: He is known as Roaring Kitty. Here's Bloomberg's Bailey Lipschultz.

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Speaker 6: Royan Kitty posting a called a meme of a player

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Speaker 6: seemingly leaning forward overnight. That triggered a huge rally in

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Speaker 6: game Stop shares halting at least four times in the

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Speaker 6: first twenty minutes for volatility. It seems like those animals

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Speaker 6: spirits are around and back.

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Speaker 1: That is Bailey Lipschultz. By the way, GameStop shares, as

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Speaker 1: I mentioned earlier, did jump seventy five percent on a

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Speaker 1: single day. Open ai is launching a faster and cheaper

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Speaker 1: version of the AI model that powers chat GPT. This

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Speaker 1: is essentially an updated version of Chat GPT four, which

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Speaker 1: is now more than a year old. OpenAI says it

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Speaker 1: will be better at handling text, audio and video in

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Speaker 1: real time. And that is news when you want it

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Speaker 1: with Bloomberg News. Now I'm Doug Prisoner and this is

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Speaker 1: Bloomberg