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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 we begin in New England, where officials

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Speaker 1: say the man suspected of killing two students at Brown

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Speaker 1: University has been found dead in a storage facility in Salem,

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Speaker 1: New Hampshire. Authorities say he took his own life. The

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Speaker 1: man is also suspected of killing an MIT professor in

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Speaker 1: his Boston area home. The man has been identified as

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Speaker 1: Claudio Neves Valente. He is a forty eight year old

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Speaker 1: Portuguese national. He's also a former Brown graduate student. Here

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Speaker 1: is Leo Foley, the US attorney in Massachusetts.

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Speaker 2: So investigators identified the vehicle that he had rented in

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Speaker 2: Boston and then drove to Rhode Island, and he was

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Speaker 2: seen in the vehicle, was seen outside of Brown, and

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Speaker 2: there was security footage that showed a person who resembled him.

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Speaker 2: There was online there was financial investigations that were going

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Speaker 2: on in the background that linked him not only to

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Speaker 2: that car, but also to the hotel tells that he

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Speaker 2: had rented and the cars, the car that he had

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Speaker 2: used to not only drive to Rhode Island but then

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Speaker 2: back to Boston.

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Speaker 1: That's Leah Foley, the US attorney in Massachusetts, TikTok assigned

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Speaker 1: binding agreements to create a US joint venture majority owned

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Speaker 1: by American investors. According to an internal memo reviewed by Bloomberg,

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Speaker 1: CEO show Chew said agreements with Oracle, Silver Lake, and

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Speaker 1: MGX have been signed. Now this US joint venture will

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Speaker 1: operate as an independent entity. Here is Bloomberg's Mike Shepherd.

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Speaker 3: The idea is that it would be a copy leased

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Speaker 3: from by Dance, but then retrained to some degree or

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Speaker 3: another by Oracle and also walled off in a way.

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Speaker 3: They would create some sort of a security firewall or

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Speaker 3: barrier that would keep byte Dance from ever gaining access

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Speaker 3: to US data or to the algorithm itself, out of

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Speaker 3: concerns that there could be some manipulation.

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Speaker 1: That is Bloomberg's Mike Shepherd. The l Nike reported more

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Speaker 1: weakness in the Chinese market as well as in its

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Speaker 1: converse brand, and these negatives offset higher than expected revenue

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Speaker 1: for the latest quarter. Here is Punam Goyel, senior retail

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Speaker 1: analyst at Bloomberg Intelligence.

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Speaker 4: When we talk about China, I think it's going to

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Speaker 4: take some time. We may not see anything in their

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Speaker 4: fiscal twenty twenty six likely at twenty twenty seven to

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Speaker 4: twenty twenty eight initiative on the converse side, you know,

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Speaker 4: getting converse right is important, but I really think what's

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Speaker 4: more important right now is getting China right. So if

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Speaker 4: I had them focused on one thing right now, it

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Speaker 4: would be how do you fix China?

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Speaker 1: That was Punam Goyel from Bloomberg Intelligence. Shares and Nike

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Speaker 1: were down by more than ten percent in late US trading.

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Speaker 1: FedEx reported adjust at EPs for the latest quarter above estimates,

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Speaker 1: and the company raised the low end of its outlook

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Speaker 1: for both full year profit and sales. FedEx is expecting

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Speaker 1: sales to rise in the new year between five to

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Speaker 1: six percent. Here is Bloomberg analyst Leek Klascow.

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Speaker 5: Obviously a bead is always better than a med, so

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Speaker 5: I think that's obviously some good news. It looks like

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Speaker 5: the margins came in a lot better than what expectations were,

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Speaker 5: about eighty basis points better than consensus. Overall, it looks

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Speaker 5: like a very good print for the company, especially giving

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Speaker 5: the challenge an environment, whether it's them grounding the MD

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Speaker 5: elevens or the end of the minimist exemptions. Looks like

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Speaker 5: they're working through that through their restructuring.

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Speaker 1: Programs, that is Bloomberg's League Classical Now FedEx is also

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Speaker 1: estimating that restructuring plan will produce a billion dollars in

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Speaker 1: permanent cost reductions. In twenty twenty six, shares and FedEx

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Speaker 1: were up by more than two percent in late US trading.

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Speaker 1: Coinbase Global is suing three states over their attempt to

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Speaker 1: regulate prediction markets. The states are Michigan, Illinois, and Connecticut. Now,

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Speaker 1: state agencies and casinos want the authority over prediction markets

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Speaker 1: to rest with states and their respective gambling laws. However,

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Speaker 1: Coinbase will ask for court orders affirming that the states

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Speaker 1: cannot interfere with the Commodity Futures Trading Commissions exclusive jurisdiction

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Speaker 1: over prediction markets granted by Congress. The European Union has

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Speaker 1: agreed to provide a loan to Ukraine of ninety billion

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Speaker 1: euros for the next two years now. The aim is

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Speaker 1: to strengthen Kiev's hand and to keep Ukraine afloat. This

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Speaker 1: loan will be backed by the EU's budget. President Trump

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Speaker 1: has signed in executive order to accelerate loosening of restrictions

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Speaker 1: on marijuana, but the president did stop short of legalizing it. Currently,

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Speaker 1: marijuana is labeled as a Schedule one drug, the government's

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Speaker 1: most restrictive class, alongside substances such as heroin and LSD

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Speaker 1: well Now, the Justice Department has been instructed to begin

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Speaker 1: the steps to shift cannabis to Schedule three. That's a

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Speaker 1: tier reserved for drugs with accepted medical uses and lower

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Speaker 1: potential for abuse. Here is President Trump.

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Speaker 6: The facts compel the federal government to recognize that marijuana

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Speaker 6: can be legitimate in terms of medical applications when carefully administered.

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Speaker 6: In some cases, this may include the use as a

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Speaker 6: substitute for addictive and potentially lethal opioid painkillers.

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Speaker 1: Now, the President went on to say this move also

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Speaker 1: makes it easier to conduct more research using cannabis. Also, today,

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Speaker 1: President Trump signed an executive order giving federal employees days

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Speaker 1: off on Christmas Eve and December twenty sixth. However, both

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Speaker 1: the New York Stock Exchange and the NASDAQ will not

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Speaker 1: alter their trading schedules for those days. The Department of

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Speaker 1: Health and Human Services is taking actions to block access

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Speaker 1: to gender affirming care for minors. The proposal includes cutting

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Speaker 1: off federal Medicaid and Medicare funding for hospitals that provide

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Speaker 1: gender affirming care to children, and it would prohibit Medicare

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Speaker 1: dollars from being used to fund those procedures. Here is

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Speaker 1: Health in Human Services Secretary Robert F. Kennedy Junior.

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Speaker 2: So called gender affirming care has inflicted lasting physical and

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Speaker 2: cyclo logical damage on vulnerable young people.

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Speaker 3: This is not medicine.

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Speaker 1: It is malpractice. HHS Secretary Robert F. Kennedy Junior. And

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Speaker 1: that is news when you want it with Bloomberg News. Now,

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