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Speaker 1: Good morning. It's Tuesday, the seventh of November here in London.

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Speaker 1: This is the BlueBag Day Break You Up podcast. I'm

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Speaker 1: Caroline Hepke.

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Speaker 2: And I'm Stephen Carroll. Coming up today on the ground

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Speaker 2: in Gaza, we have a special report on civilian life

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Speaker 2: and the Palestinian territory one month into the war.

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Speaker 1: And in other news, UBS posts its first loss since

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Speaker 1: twenty seventeen, as the lender grapples with the integration of

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Speaker 1: credit Suites.

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Speaker 2: And we work the one time Darling of the startup

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Speaker 2: scene has filed for bankruptcy.

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Speaker 1: Let's start with a roundup of our top stories. UBS

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Speaker 1: has reported its first quarterly loss since twenty seventeen. Has

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Speaker 1: pre tax profits from its wealth, asset management and investment

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Speaker 1: banking divisions came in lower than expected. The Swiss banking

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Speaker 1: giant saw a net loss of seven hundred and eighty

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Speaker 1: five million dollars for the third quarter, but total revenues

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Speaker 1: came in higher than forecasts at eleven point seven billion dollars.

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Speaker 1: UBS says that it is continuing to integrate Credit Suite

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Speaker 1: into its business, reducing its overall head count by four

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Speaker 1: thousand over the quarter.

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Speaker 2: The US president Joe Biden has discussed the possibility of

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Speaker 2: tactical pauses in fighting during a call with Israel's Prime

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Speaker 2: Minister Benjaminnettanniea, who that conversation came as gazas Hamas and

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Speaker 2: Health Ministry, says that more than ten thousand people have

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Speaker 2: been killed in the Palestinian territory. The US administration has

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Speaker 2: stepped up calls for temporary halts and fighting to allow

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Speaker 2: aid in and hostages and other civilians out. In an

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Speaker 2: exclusive interview with ABC News Netania, Who opened the door

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Speaker 2: to that possibility, Well.

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Speaker 3: There'll be no cease fire, general cease fire and Gaza

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Speaker 3: without the release of our hostages. As far as tactical

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Speaker 3: little pauses an hour here, an hour there, we've had

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Speaker 3: them before. I suppose we'll check the circumstances in order

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Speaker 3: to enable goods, humanitarian goods to come in or our

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Speaker 3: hostages individual hostages to leave. But I don't think there's

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Speaker 3: going to be a general seas far.

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Speaker 2: Speaking the same in view, Israel's Prime minister also said

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Speaker 2: he sees a role for Israel to eventually manage security

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Speaker 2: in Gaza, something that's at odds with previous statements from

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Speaker 2: those in the government.

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Speaker 3: I think Israel well for an indefinite period, will have

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Speaker 3: the overall security responsibility, because we've seen what happens when

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Speaker 3: we don't have it. When we don't have that security responsibility,

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Speaker 3: what we have is the eruption of Hamaster on a

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Speaker 3: skill that we couldn't imagine.

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Speaker 4: Benjam Manager Now.

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Speaker 2: His comments come one month after Hamas's attack on Israel,

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Speaker 2: which killed one thy four hundred people in the largest

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Speaker 2: loss of Jewish life since the Holocaust.

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Speaker 1: In corporate News, the once high flying shared office startup

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Speaker 1: We Work as filed for bankruptcy. The coworking firm listed

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Speaker 1: nearly nineteen billion dollars of debts and we'll be able

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Speaker 1: to keep operating whilst it works out a plan to

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Speaker 1: repay that once valued at forty seven billion dollars. We

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Speaker 1: Work first ran into major trouble in twenty nineteen when

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Speaker 1: the founder and then CEO, Adam Newman, was forced to

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Speaker 1: quit over allegations of excessive spending, conflicts of interest, and

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Speaker 1: a failed IPO. Reacting to the bankruptcy the News, Newman

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Speaker 1: said that the firm has quote failed to take advantage

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Speaker 1: of a product that is more relevant today than.

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Speaker 2: Ever here In the UK, King Charles opens Parliament later.

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Speaker 2: The ceremony is a key chance for the Prime Minister,

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Speaker 2: Richie Sunac to set out his government's priorities in the

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Speaker 2: final year before an election. That breaksy in parts has more.

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Speaker 4: Behind the pageantry, there is plenty of politics at play.

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Speaker 4: Ritchie Sunac is some twenty points down in most opinion polls,

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Speaker 4: with an election likely just a year away. Today's King's

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Speaker 4: Speech setting out the government's legislative agenda, will see measures

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Speaker 4: on crime, energy and housing, as the Prime Minister seeks

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Speaker 4: to define his pitch to the electorates. On energy, the

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Speaker 4: government wants to deregulate norsea oil and gas extraction to

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Speaker 4: reduce dependence on hostile states, a move which adds a

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Speaker 4: clear dividing line with labor, but also controversy with Green

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Speaker 4: groups in London, Imune pots Bloomberg Radio.

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Speaker 1: More UK News. The Bank of Bignor's chief economist, Hugh

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Speaker 1: Pills says that inflation here will soon fall in line

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Speaker 1: with the rest of the world. Britain has been an

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Speaker 1: outlier with a faster pace of price rises than most

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Speaker 1: of the G seven. Markets are speculating about ray Cutts

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Speaker 1: next year, as the Central Bank has forecast economic growth

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Speaker 1: stalling until twenty twenty five. Bloomberg Economics says that the

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Speaker 1: UK is probably already in a recession.

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Speaker 2: Sources tell Bloomberg SpaceX is on track to book revenues

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Speaker 2: of about nine billion dollars this year across its rocket,

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Speaker 2: launch and starlink businesses. The story now from Bloomberg's Charlie Palace.

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Speaker 5: Sales aren't projected to rise to around fifteen billion dollars

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Speaker 5: in twenty twenty four. According to the sources, Sales for

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Speaker 5: Starlink in particular are expected to outpace and exceed the

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Speaker 5: launch business next year as the product becomes available in

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Speaker 5: more regions around the world. The sources say Starlink will

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Speaker 5: then represent them majority of SpaceX revenue. The numbers represent

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Speaker 5: a rare look into the finances of the Elon Musk

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Speaker 5: led company, which sells commercial space on its reusable rockets,

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Speaker 5: as well as Internet being down from a constellation of

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Speaker 5: satellites in New York. Charlie Pellett Bloomberg Radio Now.

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Speaker 2: It's a month since the Hamas attack on Israel, in

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Speaker 2: which one four hundred people were killed. The war between

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Speaker 2: Israel and Hamas has claimed another ten thousand lives in

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Speaker 2: Gaza according to the Hamas run health ministry there as well.

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Speaker 2: This morning, we're bringing you some special reporting from inside Gaza.

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Speaker 2: We know electricity supplies there have been cut. Their severe

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Speaker 2: shortages of food and water. Little aid has gotten in

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Speaker 2: from the outside and few people have been able to

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Speaker 2: get out. Since the seventh of October, our reporter Farres

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Speaker 2: Akram has been a regular contact people throughout the Gaza Strip.

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Speaker 2: He told me what the situation is like there now.

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Speaker 2: According to those he's been speaking.

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Speaker 6: To, the situation is going from towards This is what

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Speaker 6: the people tell me. Electricity has been cut now. People

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Speaker 6: not only find the electricity, but they hardly keep their

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Speaker 6: mobile phones with some sort of battery. They give their

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Speaker 6: mobile phones to anybody who has like a solar banil

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Speaker 6: in order to charge their mobile phones. They are struggling

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Speaker 6: to get water. Many people are thirsty in Gaza because

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Speaker 6: they can't find drinking water and they have to use

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Speaker 6: the UNSAFDD the sealin and contaminated water. Life is getting

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Speaker 6: hard in a rough town in the south of Gaza Strip.

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Speaker 6: People are struggling to get bread. A friend of mine

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Speaker 6: told me, I have been looking for two kilograms of

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Speaker 6: a flower to make bit and I can't find in

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Speaker 6: the whole city lit around the fears and horror from

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Speaker 6: the unexpected air strikes, where all your calculations go around

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Speaker 6: when you are trying to go for safety. You don't

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Speaker 6: know where the bombs for, you don't know what's the

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Speaker 6: next target, You don't know where the Israeli army is

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Speaker 6: going to strike. And people are also afraid about their future,

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Speaker 6: their health, their well being, and they are scared and

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Speaker 6: terrified by the loss of people they know.

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Speaker 2: Are you still in contact with anyone in the north

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Speaker 2: of Gaza, in the Gaza city area? What have they

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Speaker 2: told you about the situation there?

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Speaker 6: Communicating with people in those areas is especially hard because

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Speaker 6: the Internet services are disrupted and the mobile services do

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Speaker 6: But from time to time I managed to get in

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Speaker 6: contact with a friend of mine who is sheltering with

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Speaker 6: his family at Shifa Hospital. He says, every day the

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Speaker 6: situation is going from bad tours. I ask him how,

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Speaker 6: He says, at the beginning, I used to charge my

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Speaker 6: mobile phone on a daily basis. Now I stay for

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Speaker 6: hours and for this sometimes with my mobile out of

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Speaker 6: service because the battery has died. And more important there

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Speaker 6: is that there is no way to escape. He had

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Speaker 6: already escaped his home and was taking shelter at Al

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Speaker 6: Shifa Hospital. Now Israel is striking around the hospital and

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Speaker 6: they want the people to leave the hospital, but they

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Speaker 6: don't know where to go. There are no vehicles, no cars,

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Speaker 6: and it's getting scary every hour.

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Speaker 2: How are people feeling that you speak to, I imagine

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Speaker 2: they're frightened by what's happening.

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Speaker 5: Are they angry?

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Speaker 6: It's mixed feelings of fear and anger. Fear because they

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Speaker 6: expect they will die. Some people told me we keep

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Speaker 6: our clothes on, especially women. They said, we keep our

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Speaker 6: head scarves on so in case the house gets struck,

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Speaker 6: we will be covered already when rescuers come. Some people

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Speaker 6: wrote their names on their body bars, on their arms

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Speaker 6: or legs, so they can be identified once they are

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Speaker 6: rescued from the the house that they are sheltering in

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Speaker 6: gets struck. And they are also afraid of future illnesses

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Speaker 6: because they eat unhealthy food because there is no fresh food,

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Speaker 6: no produce, so they eat canned food and they drink

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Speaker 6: unsafe water. They are also said by the loss of

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Speaker 6: some family members. Everybody in Gaza has suffered from this war.

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Speaker 6: Some people lost close family members. Many people get their

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Speaker 6: houses destroyed or damaged. As we know almost half of

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Speaker 6: Gaza Strip's houses were either destroyed or damaged. Given the

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Speaker 6: scale of destruction, people don't think Gaza will be inhabitable

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Speaker 6: if the blockade remains in a place when and after

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Speaker 6: the war is over. And they are also afraid about

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Speaker 6: a plans to transfer the population to Sinai in Egypt

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Speaker 6: and repeat the suffering and exodus experienced and suffered by

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Speaker 6: their ancestors.

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Speaker 2: Do people have any hope as to how this may end?

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Speaker 6: As far as I can tell from speaking to people

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Speaker 6: every day, the hope they had is winding.

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Speaker 2: When you talk about people being angry, is that anger

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Speaker 2: at Israel alone? Do people speak openly and are they

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Speaker 2: openly critical of Hamas as well?

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Speaker 6: People blame Israel and they blame Hamas, say too. But

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Speaker 6: for them now it's not the time to speak about

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Speaker 6: who to blame. They usually speak out after the end

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Speaker 6: of the war. Now what they speak of and what

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Speaker 6: they are thinking of is how to survive, how to

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Speaker 6: stay alive, how to escape, how to make the calculations.

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Speaker 6: I won't say which area of the strip is safe

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Speaker 6: or not, but I would say which part of the

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Speaker 6: house is safer than the other. Do we have to

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Speaker 6: shelter in the kitchen or the living group. Do we

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Speaker 6: have to stay in the stairway or just outside the

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Speaker 6: house to spare ourselves the rouble if the house collapses.

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Speaker 6: These are the questions people are thinking about. They are

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Speaker 6: two preoccupied with their struggle to survive. But when the

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Speaker 6: war is over, will be time to speak of the

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Speaker 6: blame and the responsibility. And from previous rounds of wars,

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Speaker 6: people blamed Israel, and some people also whispered their blame

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Speaker 6: of Hamas for risking the lives of people in Gaza,

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Speaker 6: or for not taking enough measures to ensure the pretection

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Speaker 6: of the population, for not warning the population in advance,

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Speaker 6: and for firing rookids sometimes without a reason.

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Speaker 5: That's our port.

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Speaker 2: Far As Akram, a long time correspondent in Gaza, now

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Speaker 2: based in Canada, but bringing his reporting for people he's

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Speaker 2: been speaking to in the Palasinian territory.

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Speaker 1: Now. Israel's military has said that it has exchanged far

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Speaker 1: with Hamas and his belief Israeli forces of advance to

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Speaker 1: encircle Gaza city. Also, you heard the Israeli Prime Minister

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Speaker 1: saying that he sees a role for Israel in managing

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Speaker 1: security in Gaza after the fighting has ended. Joining us

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Speaker 1: now is our EMEA News director Roslyn Matheson to discuss this. Ros.

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Speaker 1: It is a month since the Hamas attack in Israel.

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Speaker 1: The fighting is taking a significant turn. What do we

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Speaker 1: know of the situation with the Israeli military operation now?

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Speaker 7: Well, very much one month's in. There's no sign that

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Speaker 7: the conflict is slowing down. So, as you were saying earlier,

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Speaker 7: the Israeli forces have encircled Gaza City in the north,

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Speaker 7: that's the biggest population center in the north of Gaza,

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Speaker 7: and the effectively working to sever the north from the

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Speaker 7: south and concentrate their efforts in their fighting in the

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Speaker 7: northern regions and push people further into the south. And

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Speaker 7: we know the aerial bombardments are continuing. We know they're

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Speaker 7: targeting the upper echelons of Hamasa's machinery. They say that

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Speaker 7: they've been taking out a number of commanders in recent days,

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Speaker 7: but of course Hamasas and many headed Hydra and so

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Speaker 7: you can take out one commander, but there are plenty

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Speaker 7: to take their place, and so it's an ongoing effort

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Speaker 7: from their perspective. To try and ensure that Hermas is

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Speaker 7: completely decimated. And it's very clear from the comments being

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Speaker 7: made by officials now, including the Israeli Prime Minister Benjamin Nutt,

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Speaker 7: know that this fight is going to go on, if

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Speaker 7: not for weeks and then possibly even for months, because

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Speaker 7: it's going to be an extensive and slow process. But

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Speaker 7: then once they get into Gaza city proper to go

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Speaker 7: door to door essentially in the fighting to try and

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Speaker 7: clear her Mass out.

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Speaker 2: Indeed, the Israeli Prime Minister in that interview ABC talking

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Speaker 2: about Israel being present on the ground in Gaza for

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Speaker 2: an indefinite period, about Israel having a role in providing

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Speaker 2: security in Gaza. How significant is it to hear the

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Speaker 2: Israeli leader make comments like that.

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Speaker 7: Well, they've been saying from the outset that the military

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Speaker 7: operation itself could take weeks, months or possibly even longer.

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Speaker 7: But what they've also been saying from the outset, as

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Speaker 7: soon as they feel that they've achieved their goals with Hermas,

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Speaker 7: they said they don't see a long term presence for

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Speaker 7: Israel in Gaza itself. So the comments by the Israeli

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Speaker 7: Prime Minister overnight about Israel being present on the ground

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Speaker 7: in Gaza after the war for an indefinite period is

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Speaker 7: certainly raising eyebrows because what does that mean. Does that

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Speaker 7: mean a military presence that stays there, does it turn

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Speaker 7: into some kind of broader international peacekeeping process, or is

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Speaker 7: he talking about a political something involving a political occupation

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Speaker 7: of sorts and having Israel stay there longer. It's very

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Speaker 7: unclear what he meant by that, but certainly it's raising

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Speaker 7: eyebrows this morning.

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Speaker 1: And so in terms of you know, the US calling

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Speaker 1: for humanitarian pauses and Benjamin Nanettnyat who's saying that maybe

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Speaker 1: that they are open to tactical little pauses. He talked

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Speaker 1: about maybe an hour here or an hour there. Is

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Speaker 1: it too much to read into that that the two

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Speaker 1: sides might be coming a little bit closer together in

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Speaker 1: terms of the idea of pausings the fighting.

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Speaker 7: Well, as you were saying, they're talking about tactical little pauses,

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Speaker 7: which is, you know, an hour here or an hour there.

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Speaker 7: And it's really hard to see what a break like

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Speaker 7: that in the fighting can achieve. Is it designed to

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Speaker 7: allow people a safe passage to move further from the

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Speaker 7: north into the south of Gaza. We know that there's

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Speaker 7: lots of people who've been unable to do that so far.

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Speaker 7: Are we talking about a pause to allow more people

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Speaker 7: to leave Gaza entirely through the Rougher crossing with Egypt?

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Speaker 7: Are we talking about pauses to allow humanitarian aid to

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Speaker 7: get in? But a matter of hours won't achieve very

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Speaker 7: much necessarily in any of those endeavors, including getting aid

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Speaker 7: into Gaza and then further into the strip than just

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Speaker 7: beyond that crossing area itself. And we know the efforts

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Speaker 7: so far to have a pause of several hours has

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Speaker 7: been unsuccessful, and so those things are very very difficult

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Speaker 7: to achieve. To agree and to sustain Littlelone moving towards

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Speaker 7: a broader cease far.

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Speaker 2: Ros, the death toll continues to rise, of course, as

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Speaker 2: this fighting goes on. What about the rests of a

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Speaker 2: worse scenario, of a wider regional war. Is that still

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Speaker 2: a present risk.

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Speaker 7: It's certainly a risk and a concern not just for

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Speaker 7: countries in the region, but for big powers globally, including

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Speaker 7: the US, which is very concerned about that possibility and

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Speaker 7: keeping those conversations going in the region as a result,

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Speaker 7: and being public about saying they've got a very open

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Speaker 7: door to Iram at the moment to try and avoid

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Speaker 7: Arahum being pulled further in. We know that there are

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Speaker 7: daily strikes and tip far between Israel and Hesbalah, coming

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Speaker 7: from Lebanon into the north of Israel, for example, but

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Speaker 7: what we are seeing so far is that being relatively contained.

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Speaker 7: So those that pick up and attacks we're seeing on

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Speaker 7: US soldiers based in Syria and rack the Hesbeler attacks.

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Speaker 7: They are going on, but they're relatively measured for now.

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Speaker 7: What we do know, of course, those the Hesbaalad chief

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Speaker 7: is I think duly give another speech lately this week.

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Speaker 7: Would be interesting to see his retrick and whether it

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Speaker 7: changes from what he said a couple of days ago

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Speaker 7: about that prospect, because certainly you know a run that

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Speaker 7: the countries are still warning that if needed, they feel

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Speaker 7: they'll have to step in further.

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