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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. Israeli Prime Minister Benjamin net Niyaho says a

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Speaker 1: deal has been reached to return hostages held in the

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Speaker 1: Gaza Strip. The early morning announcement came one day after

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Speaker 1: net Nyahu's office said there were last minute snags and

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Speaker 1: talks to free hostages in return for a ceasefire and

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Speaker 1: for the release of Palestinian prisoners. Net Nyahu said he

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Speaker 1: will convene his security cabinet later on Friday, and then

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Speaker 1: the government will approve the ceasefire agreement. We go to

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Speaker 1: China next, where GDP growth in twenty twenty four was

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Speaker 1: five percent, that meets the government's annual target, and during

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Speaker 1: the fourth quarter of last year, economic growth in China

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Speaker 1: was also resilient. Here is Helen Choo, chief Greater China

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Speaker 1: economist at b of A Global Research.

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Speaker 2: The GDP numbers look pretty awesome. I think that's five

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Speaker 2: point four percent for the fourth quarter. That's definitely a beat,

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Speaker 2: and that probably came as a combination of two things

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Speaker 2: in our view. Number one is that I think, you know,

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Speaker 2: manufacturing wise, I think industrial activities probably held up reasonably

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Speaker 2: well We kind of knew that after seeing three months

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Speaker 2: of PMI, you know, staying above fifty percent, so that

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Speaker 2: implies a sequential improvement continuously.

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Speaker 1: That is Helen Chow, chief Greater China economist at b

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Speaker 1: of A Global Research. We also got monthly activity in

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Speaker 1: China for the month of December. Industrial output rose at

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Speaker 1: an annual rate of six point two percent. That was

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Speaker 1: above the estimate of five point four percent, and retail

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Speaker 1: sales rose at an annual rate of three point seven percent.

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Speaker 1: That too is better than the estimate of three point

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Speaker 1: six percent. And at the same time, China's home prices

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Speaker 1: declined in December at a slower rate. Treasury Secretary nominees

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Speaker 1: Gott Bessins had a warning today for lawmakers. During his

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Speaker 1: confirmation hearing, Beson told senators they must extend the twenty

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Speaker 1: seventeen tax cuts or risk economic crisis. Here's Blue Briggs

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Speaker 1: Amy Morris from Washington.

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Speaker 3: Besant called extending the twenty seventeen tax cuts the single

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Speaker 3: most important economic issue of the day.

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Speaker 4: If we do not renew an extent, we will be

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Speaker 4: facing an economic calamity that falls on the middle and

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Speaker 4: working class people.

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Speaker 3: Asant told lawmakers that if Donald Trump wanted to get

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Speaker 3: rid of the debt limit. He would quote work with

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Speaker 3: him and you on that the United.

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Speaker 4: States is not going to default on its step if

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Speaker 4: I'm confirmed.

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Speaker 3: And Besant told lawmakers he would support Russian oil sanctions.

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Speaker 4: I will be one hundred percent on board for taking

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Speaker 4: sanctions up, especially on the Russian oil majors, two levels

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Speaker 4: that would bring Russian Federation to the table.

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Speaker 3: And he said he respected the Federal reserves independence over

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Speaker 3: monetary policy. In Washington, Amy Morris Bloomberg Radio.

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Speaker 1: The US Supreme Court has signaled it is likely to

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Speaker 1: rule tomorrow on a law to shut down TikTok. In

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Speaker 1: an announcement on its website, the Court said that justices

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Speaker 1: may issue an opinion Friday morning at ten am Washington time. Now.

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Speaker 1: The law in question requires TikTok's Chinese parent, Byte Dance,

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Speaker 1: to sell the app's US operations by January the nineteenth,

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Speaker 1: or face a ban in the States. Now, US officials

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Speaker 1: have said President Biden will not enforce a ban set

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Speaker 1: to take effect the day before he leaves office. Meantime,

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Speaker 1: TikTok is hoping for a reprieve due to the holiday

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Speaker 1: weekend and a pledge from the incoming Trump administration to

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Speaker 1: give its Chinese owner more time to divest. Bloomberg's Mike

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Speaker 1: Shepherd says that Trump has embraced the app despite trying

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Speaker 1: to ban it the first time he served as president.

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Speaker 5: What he found after leaving office and then putting himself

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Speaker 5: up for candidacy again is that TikTok is a great

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Speaker 5: way to reach younger voters, and when he joined the

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Speaker 5: app with his own account, he found that he picked

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Speaker 5: up tens of millions of followers very very quickly. And

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Speaker 5: he also sees that maybe there is a business case

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Speaker 5: to keep TikTok open and per perhaps bite doing the

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Speaker 5: very thing he likes the most, making a deal.

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Speaker 1: That is Bloomberg's Mike Shephard. Mining giants Rio Tinto and

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Speaker 1: Glencore have been discussing a merger. We are told early

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Speaker 1: stage talks have been held, although it's unclear whether they're

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Speaker 1: still live now. A combination of these two would create

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Speaker 1: a company larger than industry leader BHP Group in areas

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Speaker 1: of iron ore, coal, and copper, and this is not

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Speaker 1: the first time Rio and Glencore have explored a combination.

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Speaker 1: Here is Bloomberg's Paul Allen.

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Speaker 6: It was twenty fourteen. This last came up, and it

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Speaker 6: was I and All that was at the core of it.

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Speaker 6: Then it was the per former CEO Ivan Glaisenberg who

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Speaker 6: spearheaded the approach ten years ago. Now, and it's kind

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Speaker 6: of interesting that Glasenberg still owns about ten percent of Glencore.

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Speaker 6: So look, we don't know, but you've got you can't

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Speaker 6: help but wonder that maybe his hand isn't all of

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Speaker 6: this as well.

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Speaker 1: That is Bloomberg's Paul Allen. Now, this deal would face

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Speaker 1: significant hurdles that would include cultural and historical differences, as

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Speaker 1: well as Glencore's cold business and potential antitrust scrutiny. 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 Prisoner, and this is Bloomberg