WEBVTT - Epstein Files Global Fallout, Trump Tariffs Major Revolt, Paris Insider Trading Trial

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the Boomberg Day a Q podcast. Good morning,

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<v Speaker 2>It's Thursday, the twelfth of February. I'm Caroline Hepkeit in London.

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<v Speaker 1>And I'm Stephen Carolin Brussels. Coming up today. Another investor

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<v Speaker 1>cuts ties with the global ports giant DP World over

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<v Speaker 1>the CEO's alleged ties to Jeffrey Epstein. As the fallout

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<v Speaker 1>from the release of documents grows.

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<v Speaker 2>The UK Prime Minister Kis Starmer calls on Manchester United

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<v Speaker 2>co owner Jim Ratcliffe to apologize after he said Britain

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<v Speaker 2>has been colonized by immigrants.

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<v Speaker 1>Plus a rare and detailed view into the mechanics of

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<v Speaker 1>an alleged multimillion euro insider deal revealed in the trial

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<v Speaker 1>of two traders in Paris.

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<v Speaker 3>Let's start with a round up of our top stories.

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<v Speaker 1>A UK government owned investment firm has halted its relationship

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<v Speaker 1>with global ports giant DP World over the CEO's alleged

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<v Speaker 1>ties to Jeffrey Epstein. Comes after Canada's second largest pension

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<v Speaker 1>fund also suspended future investment plans with Dpworld. With Maury

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<v Speaker 1>Here's Boomberg's crispest.

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<v Speaker 4>Both firms took the decision after emails released by the

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<v Speaker 4>US Justice Department and others obtained by Bloomberg News last

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<v Speaker 4>summer showed that DP World CEO Sultan Ahmed bin Salaam

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<v Speaker 4>corresponded with Epstein for more than a decade after Epstein's

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<v Speaker 4>jail sentence in two thousand and eight on charges that

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<v Speaker 4>included procuring a minor for prostitution. A spokesperson for DP

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<v Speaker 4>World wasn't immediately available for comment. Meanwhile, neither Bin Salaam

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<v Speaker 4>nor representatives for DP World responded to repeated requests for

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<v Speaker 4>comments on a Bloomberg News investigation about the email exchanges

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<v Speaker 4>in London, Chris Pitt Bloomberg Radio.

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<v Speaker 2>The latest revelations come as the fallout from the release

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<v Speaker 2>of the Epstein files continues to reach across governments, companies,

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<v Speaker 2>and universities. US Attorney General Pam Bondi yesterday revealed that

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<v Speaker 2>there are pending investigations by the US Justice Department related

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<v Speaker 2>to the probe of the late disgraced financier Jeffrey Epstein.

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<v Speaker 2>During a congressional hearing on Wednesday, Bondie said in a

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<v Speaker 2>response to a question about whether there were any additional

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<v Speaker 2>Epstein related prosecutions, planned that we have pending investigations in

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<v Speaker 2>our office, but did not elaborate, and during that same hearing,

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<v Speaker 2>New York Congressman Jerry Nadlers tried to ask BONDI, how

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<v Speaker 2>many men connected with Epstein have been indicted?

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<v Speaker 5>How many perpetrators are you even investigating?

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<v Speaker 4>First you showed it, I find how many have you?

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<v Speaker 1>Excuse me, I'm going to answer the question.

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<v Speaker 3>Answer my question.

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<v Speaker 4>I'm going to answer the question the way I want

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<v Speaker 4>to answer the question.

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<v Speaker 3>You answer the question.

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<v Speaker 1>I'm not going to get in the gutter with these people.

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<v Speaker 1>I'm going to answer the question, how many of you?

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<v Speaker 2>The exchange between Nadler and Palm Pam Bondie came as

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<v Speaker 2>Columbia University said that it admitted a student to its

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<v Speaker 2>dental school via what it called irregular process that coincided

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<v Speaker 2>with fundraising solicitations by former faculty and alumni to disgrace

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<v Speaker 2>financi Jeffrey Epstein. That revelation came after Bloomberg reported on

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<v Speaker 2>a year's long chain of communication between Epstein's camp and

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<v Speaker 2>senior members of the Columbia dental faculty.

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<v Speaker 1>The Republican led US House of Representatives, as past legislation

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<v Speaker 1>named at ending President Trump's tariffs on Canada. The move

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<v Speaker 1>signals growing anxiety over the White House's economic agenda ahead

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<v Speaker 1>of midterm election campaigns that are expected to focus on

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<v Speaker 1>affordability issues. President Trump can still veto the bill, meaning

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<v Speaker 1>the vote was largely symbolic and a way to get

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<v Speaker 1>lawmakers on the record regarding their support for tariffs on

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<v Speaker 1>Canadian goods. Here's our senior US Government editor, Derek Wallbank.

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<v Speaker 6>These votes sort of represent an increase in political pressure

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<v Speaker 6>on the President to change course just months before the

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<v Speaker 6>midterm elections. They also, though, represent a big difficulty for

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<v Speaker 6>some swing district Republicans whose districts may be heavily affected

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<v Speaker 6>by tariffs, but who have to face a very real

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<v Speaker 6>question about whether or not they want to cross the

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<v Speaker 6>President on his signature issue.

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<v Speaker 1>Derek Weelbank was speaking of sources of Tel Bloomberg. President

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<v Speaker 1>Trump is privately considering quitting the US Mexico Canada Trade

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<v Speaker 1>Pact that he signs during his first term.

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<v Speaker 2>Now, the British Prime Minister has labeled comments on immigration

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<v Speaker 2>made by Manchester United's co owner Jim Ratcliffe as offensive

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<v Speaker 2>and wrong.

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<v Speaker 3>A spokesperson for No.

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<v Speaker 2>Ten also called on the billionaire boss of Enios Chemicals

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<v Speaker 2>to apologize for the remarks made during an interview with

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<v Speaker 2>Sky News. During the conversation, Ratcliffe said that the UK

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<v Speaker 2>couldn't sustain its current population growth.

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<v Speaker 7>You can't have an economy with nine million people on

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<v Speaker 7>benefits and huge levels of immigrants coming in. I mean

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<v Speaker 7>that the UK has been colonized. It's costing too much money.

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<v Speaker 7>It will cause the UKO has been colonized by immigrants, really,

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<v Speaker 7>isn't it. I mean the population of the UK is

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<v Speaker 7>fifty eight million in twenty twenty, now it's seventy million.

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<v Speaker 2>In that interview with Sky News, Jim Ratcliffe went on

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<v Speaker 2>to argue that Kirs Darman needs to make difficult decisions

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<v Speaker 2>to get the UK back on track. Data from the

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<v Speaker 2>Office for National Statistics estimates the UK population in mid

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<v Speaker 2>twenty twenty five was sixty nine point four million, almost

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<v Speaker 2>three million higher than in twenty twenty. Several managers the

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<v Speaker 2>United Supporters Clubs have condemned the comments, as well as

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<v Speaker 2>the Kick it Out campaign against discrimination in sports.

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<v Speaker 1>The leaders of France and Germany are at odds over

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<v Speaker 1>a Made in Europe push across the EU that says

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<v Speaker 1>European leaders are gathering in rural Belgium to discuss their

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<v Speaker 1>economic challenges. Bloomberg tea at of Bio has more.

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<v Speaker 8>We have to preserve and define by design European content.

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<v Speaker 8>Those were the words of French President Emmanuel Macran to

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<v Speaker 8>a summit of business leaders as he's urging EU countries

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<v Speaker 8>to prioritize buying from within the bloc in strategic sectors.

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<v Speaker 8>But his Made in Europe agenda has a significant opponent.

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<v Speaker 8>Germany's Chancellor has worn the approach could be too narrow,

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<v Speaker 8>arguing that European preference rules should only be used as

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<v Speaker 8>a last resort. Friedrich Mertz's remarks at the same event

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<v Speaker 8>illustrate the divisions going into today's European leaders retreat on competitiveness. Meanwhile,

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<v Speaker 8>the UK's Rachel Reeves has appealed for any Made in

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<v Speaker 8>Europe law to be broadened to include like minded countries

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<v Speaker 8>outside the EU. In London, he were at a bioblion

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<v Speaker 8>Berg Radio.

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<v Speaker 2>WhatsApp says that Russia has tried to fully block its

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<v Speaker 2>encrypted messaging service in the country. WhatsApp, which is owned

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<v Speaker 2>by Meta, said in a statement on Wednesday that it's

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<v Speaker 2>trying to keep more than one hundred million Russian users connected.

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<v Speaker 2>The Russian government is trying to drive the adoption of

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<v Speaker 2>a new state sponsored app called Max, modeled on China's

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<v Speaker 2>we Chat, while it is also trying to choke off

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<v Speaker 2>access to other foreign owned services, including Telegram. Those are

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<v Speaker 2>some of our top stories for you this morning. In

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<v Speaker 2>terms of the markets, Asian equities have had a huge

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<v Speaker 2>impressive start to the year in terms of the rally

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<v Speaker 2>that we've seen. The costpy continues that today up by

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<v Speaker 2>two point seven percent, the topics also climbing by eight

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<v Speaker 2>tenths of one percent, the Japanese yen strengthening against the dollar.

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<v Speaker 2>There's a real sort of by Japan moment, it seems. Meanwhile,

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<v Speaker 2>AI taking a bite out of more industries, including US

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<v Speaker 2>real estate names and Dasso Systems yesterday in Europe. Very

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<v Speaker 2>hot US jobs report yesterday means that trades are pricing

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<v Speaker 2>in a rakeup from the FED now in July, so

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<v Speaker 2>not until then. And a number of earnings out today

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<v Speaker 2>ab im Beev, Siemens and Mercedes benz Ziemen's actually raising

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<v Speaker 2>its outlook, so a sort of validation for Roland Bush's

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<v Speaker 2>push to reshape the company. Mercedes Benz expects margins to

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<v Speaker 2>remain under pressure this year.

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<v Speaker 3>Those are the markets in a moment.

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<v Speaker 1>More on the latest on how revelations in the Epstein

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<v Speaker 1>files are reverberating across the corporate world. Plus a court

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<v Speaker 1>case in Paris reveals rare insight into the mechanics of

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<v Speaker 1>an alleged multimillion euro insider trading scheme. But another story

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<v Speaker 1>that we've been reading first this morning, on the question

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<v Speaker 1>of imitations, copies, counterfeits. Is it flattery or is it frustrating?

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<v Speaker 1>Felix Salmon has been writing about this for Bloomberg Pursuits.

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<v Speaker 1>He points to the long tradition of artists copying slash

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<v Speaker 1>being inspired by one another through history, and the value

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<v Speaker 1>that we now place on reproductions that are very old,

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<v Speaker 1>and he says that as we transition from a century

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<v Speaker 1>that was dominated by the US to one dominated by China,

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<v Speaker 1>the world will have to start grappling with its attitude

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<v Speaker 1>toward copies and fakes. They're far more accepted the in

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<v Speaker 1>Asia than they are necessarily in the West. Perhaps that's

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<v Speaker 1>the attitude we should be adopting.

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<v Speaker 2>I don't know, I mean, I'm more interested in handbags.

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<v Speaker 2>I'm sorry, than art, and that apparently if you have

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<v Speaker 2>fake handbags that, according to a professor who've done research

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<v Speaker 2>into this, luxury knockoffs actually mean that consumers want to

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<v Speaker 2>spend more on the original.

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<v Speaker 3>Chadn't realized.

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<v Speaker 1>Yeah, and like, I don't have a problem with having

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<v Speaker 1>prints of artwork on my walls at home rather than

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<v Speaker 1>necessarily everything being original either. I mean, if you like

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<v Speaker 1>the picture, you like the picture, which is sort of

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<v Speaker 1>the element of a two. Felix always very intellectual in

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<v Speaker 1>the way that he, of course looks at these issues

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<v Speaker 1>as well. He quotes the artist Eric Duringer as well,

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<v Speaker 1>who notes that the word copy comes from the Latin copia,

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<v Speaker 1>which is the root of cornucopia. So take from that

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<v Speaker 1>what you will. You can read Felix's piece at Bloomberg

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<v Speaker 1>dot com or put a link to it in our

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<v Speaker 1>podcast show notes as well.

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<v Speaker 2>Now, and let's bring you more on the fall out

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<v Speaker 2>from the Epstein files. The UK's Development Finance Bank British

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<v Speaker 2>International Investment has suspended dealings with Dubio Logistics gan DP

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<v Speaker 2>world over alleged ties between the firm CEO and Jeffrey Epstein.

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<v Speaker 2>Around the world, politicians and business leaders are having to

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<v Speaker 2>respond to revelations found in the millions of documents released

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<v Speaker 2>by the US Justice Department. Joining US now as Harry Wilson,

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<v Speaker 2>the Bloomberg reporter at the center of our investigation that

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<v Speaker 2>first uncovered the extent of Epstein's ties to the UK's

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<v Speaker 2>former ambassador to the US, Peter Mandelson. Harry, good to

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<v Speaker 2>speak to you. You've also been reporting on the story

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<v Speaker 2>around DP world this week, and those revelations around the

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<v Speaker 2>chairman and CEO's contacts with Epstein having consequences really far

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<v Speaker 2>beyond Dubai.

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<v Speaker 3>Tell us what's happened.

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<v Speaker 5>Yes, well, it's been quite a familiar story now, hasn't it.

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<v Speaker 5>With all the release of these documents, what we're seeing

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<v Speaker 5>is a whole host of people around the world, often

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<v Speaker 5>very wealthy, very influential people, being caught up in this,

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<v Speaker 5>I guess ever growing scandal, which is that they in

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<v Speaker 5>some way have either had linked connections, were close friends

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<v Speaker 5>associates of Jeffrey Epstein, and those relationships now are getting

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<v Speaker 5>exposed in a very public and a very I guess

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<v Speaker 5>sort of damaging way for them at the moment.

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<v Speaker 3>Harry.

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<v Speaker 1>This is part of a deluge of documents released now

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<v Speaker 1>more than a week ago. Why just on the mechanics

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<v Speaker 1>of this, why are we still learning significant new details

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<v Speaker 1>each day? And should we expect that to continue?

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<v Speaker 5>I supposely the answer is pretty simple, which is that

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<v Speaker 5>there's three and a half million documents that have been released.

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<v Speaker 5>Quite a few of those documents will be one hundreds,

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<v Speaker 5>maybe thousands of pages long, So we're talking about potentially,

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<v Speaker 5>I think, probably upwards of tens of millions of pages

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<v Speaker 5>of information here and quite simply just going through the

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<v Speaker 5>process of sifting through that long time. You know, even

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<v Speaker 5>with all the technology we have at our fingertips today

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<v Speaker 5>that's access to aisystems and such like, it's still a

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<v Speaker 5>very very labor intensive process. And I think that we're

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<v Speaker 5>probably only you know, about maybe five ten percent of

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<v Speaker 5>the way into into this. You know, there's just just

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<v Speaker 5>simply a huge amount of information to go through. Quite

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<v Speaker 5>often as well, documents require a lot of context. You know,

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<v Speaker 5>you can see an email that looks pretty innocuous, but

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<v Speaker 5>it can only reveal its true significance quite often in

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<v Speaker 5>a wider context of what was happening at the time

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<v Speaker 5>when the email was sent. And that's just a very

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<v Speaker 5>labor intensive, time consuming process. So My guess is that

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<v Speaker 5>this is going to go on for at least several

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<v Speaker 5>more weeks, probably months, and who knows, we can still

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<v Speaker 5>be a year or so out from this learning new

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<v Speaker 5>things from this cash.

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<v Speaker 2>Yeah, and some of the allegations are much more serious

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<v Speaker 2>than others. What has stood out to you most in

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<v Speaker 2>terms of what has emerged so far?

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<v Speaker 5>I think probably what stands out to me, probably what

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<v Speaker 5>stands out to a lot of our listeners as well,

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<v Speaker 5>probably is the unguardedness and the year. I guess sort

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<v Speaker 5>of vulgarity maybe is the word. But what I think

0:13:23.559 --> 0:13:27.120
<v Speaker 5>a lot of people finding surprising is just simply the

0:13:27.160 --> 0:13:31.680
<v Speaker 5>way in which people communicated so openly about such often

0:13:32.520 --> 0:13:37.400
<v Speaker 5>terrible things with Jeffrey Epstein. You might have expected, you know,

0:13:37.480 --> 0:13:40.880
<v Speaker 5>at least by I guess sort of the mid twenty

0:13:40.920 --> 0:13:42.720
<v Speaker 5>tens or something, people to be more guarded in their

0:13:42.720 --> 0:13:46.000
<v Speaker 5>electronic communications. But what we actually see is people sending

0:13:46.240 --> 0:13:52.360
<v Speaker 5>incredibly I guess, sort of course or unwise communications to

0:13:52.960 --> 0:13:56.360
<v Speaker 5>and from Epstein. And I think that to me has

0:13:56.400 --> 0:14:01.440
<v Speaker 5>been a huge surprise that people were quite openly sending

0:14:01.480 --> 0:14:05.360
<v Speaker 5>this type of staff to Epstein years after he was

0:14:05.400 --> 0:14:11.080
<v Speaker 5>convicted of soliciting sex from a minor and I think,

0:14:11.280 --> 0:14:12.800
<v Speaker 5>you know, I think a lot of other people probably

0:14:12.800 --> 0:14:13.920
<v Speaker 5>find that very surprising too.

0:14:15.040 --> 0:14:17.560
<v Speaker 1>Okay, Harry, thanks so much for joining us, Harry Wilson.

0:14:17.600 --> 0:14:20.520
<v Speaker 1>They're a reporter who's been covering the Epstein files and

0:14:20.520 --> 0:14:22.720
<v Speaker 1>indeed broke many of these stories before the delage of

0:14:22.800 --> 0:14:25.280
<v Speaker 1>documents that came from the US Justice Department as well.

0:14:25.280 --> 0:14:28.800
<v Speaker 1>Thank you very much for joining us this morning. Stay

0:14:28.840 --> 0:14:32.360
<v Speaker 1>with us. More from Bloomberg Daybreak Europe coming up after this.

0:14:34.360 --> 0:14:34.520
<v Speaker 9>Now.

0:14:34.560 --> 0:14:37.200
<v Speaker 2>The trial of two traders in Paris is offering a

0:14:37.320 --> 0:14:41.120
<v Speaker 2>rare view into the mechanics of an alleged multimillion euro

0:14:41.360 --> 0:14:44.480
<v Speaker 2>inside a deal. It follows a decade long investigation into

0:14:44.520 --> 0:14:48.000
<v Speaker 2>trades that were made before French chemical producer air le

0:14:48.160 --> 0:14:52.680
<v Speaker 2>Ked announced plans to acquire American rival air gas. Our

0:14:52.720 --> 0:14:56.240
<v Speaker 2>Paris legal reporter gaspell Seabag joins us now for more.

0:14:56.720 --> 0:14:59.400
<v Speaker 2>Good to talk to you, Gas about what has stood

0:14:59.440 --> 0:15:00.920
<v Speaker 2>out doing this trial.

0:15:02.560 --> 0:15:05.760
<v Speaker 9>You know, what was really extraordinary during this trial is

0:15:05.800 --> 0:15:09.760
<v Speaker 9>that some of the suspects were using what's known as

0:15:09.840 --> 0:15:14.480
<v Speaker 9>Berner phones. They were using these prepaid cell phones that

0:15:14.520 --> 0:15:19.800
<v Speaker 9>you typically discard to avoid being detected by authorities, but

0:15:20.840 --> 0:15:24.040
<v Speaker 9>Despite these precautions, Coop managed to trace their movements and

0:15:24.080 --> 0:15:29.800
<v Speaker 9>somehow actually wiretapped these secret lines, and so in court

0:15:29.960 --> 0:15:34.400
<v Speaker 9>there was this moment where the judge actually played the

0:15:34.520 --> 0:15:41.360
<v Speaker 9>tapes and so instead of surmising that these traders who

0:15:41.400 --> 0:15:46.040
<v Speaker 9>had been making millions over the past years, surmising that

0:15:46.200 --> 0:15:50.960
<v Speaker 9>maybe they'd got a tip from somewhere, well, actually we

0:15:50.960 --> 0:15:56.280
<v Speaker 9>were listening to them as they appeared to get leaks

0:15:56.440 --> 0:16:01.480
<v Speaker 9>from a banker of details about out a yet unannounced

0:16:01.560 --> 0:16:03.920
<v Speaker 9>multi billion dollar acquisition.

0:16:04.920 --> 0:16:07.000
<v Speaker 10>It was really really quite extraordinary.

0:16:08.720 --> 0:16:13.120
<v Speaker 9>You could hear the suspects laugh at times in court.

0:16:13.800 --> 0:16:19.200
<v Speaker 9>I really sensed unease from the defendants. And what was

0:16:20.080 --> 0:16:24.200
<v Speaker 9>really quite amazing was the wealth of details that this

0:16:24.320 --> 0:16:29.280
<v Speaker 9>gang had. They didn't just know the names of the

0:16:29.320 --> 0:16:33.520
<v Speaker 9>companies that you just cited. They also appeared to gain

0:16:33.600 --> 0:16:37.480
<v Speaker 9>information about the price they acquired was going to pay,

0:16:37.760 --> 0:16:42.400
<v Speaker 9>which was basically a forty percent premium. They seemed to

0:16:42.440 --> 0:16:45.680
<v Speaker 9>know the date the deal was going to be announced,

0:16:46.640 --> 0:16:50.000
<v Speaker 9>they seemed to know how it was going to be financed. Basically,

0:16:50.040 --> 0:16:52.520
<v Speaker 9>they kind of seemed to have everything in hand.

0:16:53.200 --> 0:16:55.800
<v Speaker 1>One of the unusual characters in this case, it's been

0:16:55.840 --> 0:16:59.560
<v Speaker 1>a paintball executive. Can you tell us more about about

0:16:59.600 --> 0:17:02.440
<v Speaker 1>Hyman and how he was embroiled in this Yes?

0:17:03.080 --> 0:17:03.680
<v Speaker 10>Absolutely.

0:17:04.720 --> 0:17:07.760
<v Speaker 9>In fact, you know, beyond these berna phones that I mentioned,

0:17:07.760 --> 0:17:12.080
<v Speaker 9>what makes cracking inside a trading case it's very difficult,

0:17:12.400 --> 0:17:17.280
<v Speaker 9>is when you have these unusual intermediaries. You know, it's

0:17:17.359 --> 0:17:21.560
<v Speaker 9>essentially people that there's no real objective reason to suspect,

0:17:21.640 --> 0:17:25.720
<v Speaker 9>and that I believe was the case in many ways

0:17:25.760 --> 0:17:32.399
<v Speaker 9>with this Paintball executive, mister Thomas Seligman, who'd started his

0:17:32.560 --> 0:17:37.480
<v Speaker 9>career running hair salon family business for several years and

0:17:37.520 --> 0:17:40.639
<v Speaker 9>then set up, as you said, a paintball supply firm.

0:17:41.320 --> 0:17:44.679
<v Speaker 9>He didn't carry any stock trading himself, so you know,

0:17:44.880 --> 0:17:49.679
<v Speaker 9>he never raised any red flags with market regulators. But

0:17:49.800 --> 0:17:53.040
<v Speaker 9>as it seemed to turn out, he was the connector.

0:17:53.280 --> 0:17:57.879
<v Speaker 9>He was the essential node in this alleged scheme. You know,

0:17:58.000 --> 0:18:02.600
<v Speaker 9>independently over the years he'd met a banker and then

0:18:02.840 --> 0:18:06.920
<v Speaker 9>at another occasion he'd met a solo trader, and thereafter,

0:18:07.840 --> 0:18:12.600
<v Speaker 9>using these secret lines, he was phoning one to collect information,

0:18:12.720 --> 0:18:14.960
<v Speaker 9>then calling the other to share what he'd learnt.

0:18:15.160 --> 0:18:17.640
<v Speaker 10>And you know that was the.

0:18:17.680 --> 0:18:23.760
<v Speaker 9>Person that eventually authorities started tailing. You know, they started

0:18:23.920 --> 0:18:26.919
<v Speaker 9>to follow what he was doing, and they finally managed

0:18:26.960 --> 0:18:30.240
<v Speaker 9>to place a wiretapp on his phone.

0:18:30.720 --> 0:18:32.800
<v Speaker 3>So then what was in it for him?

0:18:32.920 --> 0:18:37.800
<v Speaker 2>Since he wasn't himself trading on the intel Allegedly.

0:18:37.720 --> 0:18:40.720
<v Speaker 10>That's where it gets really really quite interesting too.

0:18:41.520 --> 0:18:45.359
<v Speaker 9>You know, obviously you can imagine that according to investigators,

0:18:45.400 --> 0:18:50.280
<v Speaker 9>he wasn't doing this for free. He expected seemingly a

0:18:50.359 --> 0:18:56.680
<v Speaker 9>kit back on the proceeds, and the authorities alleged that

0:18:56.760 --> 0:19:00.960
<v Speaker 9>he and his co conspirators were using these quite roundabout

0:19:01.040 --> 0:19:05.680
<v Speaker 9>ways to make payments, right, they weren't just like you know, making.

0:19:05.400 --> 0:19:07.600
<v Speaker 10>A wire trade transfer like this, you know.

0:19:08.320 --> 0:19:13.320
<v Speaker 9>And and so in one one instance, mister Seligman had

0:19:14.320 --> 0:19:19.400
<v Speaker 9>received a regency period console when he'd got married several

0:19:19.520 --> 0:19:22.879
<v Speaker 9>decades earlier, and he was desperately trying to get rid

0:19:22.960 --> 0:19:26.360
<v Speaker 9>of it in the in the years proceeding uh this

0:19:26.359 --> 0:19:31.359
<v Speaker 9>this case, and he'd had Christie's auction it several times,

0:19:31.480 --> 0:19:34.720
<v Speaker 9>but you know, no one was a buyer. The price

0:19:34.800 --> 0:19:37.359
<v Speaker 9>kept on dropping, and still no one was a buyer.

0:19:37.880 --> 0:19:39.360
<v Speaker 10>And then one day.

0:19:40.000 --> 0:19:44.080
<v Speaker 9>Actually he was on Christmas Eve, just after a protagonist

0:19:44.160 --> 0:19:49.359
<v Speaker 9>had made a mint on air gas, this fellow Seligman

0:19:50.040 --> 0:19:54.360
<v Speaker 9>got a big wire transfer worth at least three times

0:19:54.400 --> 0:19:57.679
<v Speaker 9>the value of this furniture piece from one of the

0:19:57.720 --> 0:20:01.560
<v Speaker 9>trader friends who who'd made fortune. You know, this was

0:20:01.680 --> 0:20:04.240
<v Speaker 9>just one of the alleged Kickmax schemes. There were other

0:20:04.400 --> 0:20:10.439
<v Speaker 9>which were seemingly disguised in a distribution contract for Paintball Ammo.

0:20:10.680 --> 0:20:13.720
<v Speaker 9>But I do think this Regency one is pat the

0:20:14.760 --> 0:20:15.639
<v Speaker 9>most telling.

0:20:17.720 --> 0:20:20.480
<v Speaker 1>This is Bloomberg Daybreak Europe, your morning brief on the

0:20:20.520 --> 0:20:23.600
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0:20:23.920 --> 0:20:27.880
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0:20:44.920 --> 0:20:47.560
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