WEBVTT - Colombia Quake Toll Rises, Trump Hints Restraint with Iran, More

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<v Speaker 1>News when you want it with Bloomberg News Now, I'm

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<v Speaker 1>Amy Morris. At least forty seven people are dead more

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<v Speaker 1>are trapped after a powerful earthquake in Colombia. The magnitude

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<v Speaker 1>seven point four tremor struck at seven thirty four this

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<v Speaker 1>morning local time near the town of San Jose del Palmar,

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<v Speaker 1>with at least one aftershock. The earthquake has also rocked

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<v Speaker 1>buildings as far away as Bogata, which is one hundred

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<v Speaker 1>and eighty six miles away. President Trump has signaled that

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<v Speaker 1>he is prepared to let economic pressure build on Iran

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<v Speaker 1>rather than launch fresh military strikes. The President is looking

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<v Speaker 1>to force a reopening of the Strait of Hormuz, even

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<v Speaker 1>as Iran reiterated that conditions still are not in place

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<v Speaker 1>for that. Bloomberg Middle East Breaking News editor Patrick Sites, I.

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<v Speaker 2>Think we're caught in this kind of back and forth

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<v Speaker 2>where one day the president will say they're on the

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<v Speaker 2>verge of resuming military strikes, or they're on the verge

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<v Speaker 2>of a deal, and now the latest is that they're

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<v Speaker 2>trying to take some of the immediacy or expectations of

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<v Speaker 2>immediacy out of the the diplomatic.

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<v Speaker 1>Dance Bloomberg's Patrick Sykes, and crude oil is about four

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<v Speaker 1>percent higher now WTI topping eighty one dollars a barrel,

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<v Speaker 1>and Brent crude closing in on eighty seven dollars a barrel.

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<v Speaker 1>A rally in oil prices left stocks wavering, while bond

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<v Speaker 1>yields rose with trader anxiety building just days ahead of

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<v Speaker 1>a key inflation report. We check markets for you all

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<v Speaker 1>day long. Here if Bloomberg, the S and P five

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<v Speaker 1>hundred is up a tenth of a percent. NASDAK is

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<v Speaker 1>little changed on the downside, the Dow little changed on

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<v Speaker 1>the downside. The ten year treasury yield at four point

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<v Speaker 1>six nine percent, the two year yield at four point

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<v Speaker 1>two three percent. Philadelphia Semiconductor Index more than one and

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<v Speaker 1>a half percent lower, led by Coherent, which is down

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<v Speaker 1>twelve percent. White House Economic advisor Kevin Hassett says he

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<v Speaker 1>is not looking to replace Lisa Cook on the FED

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<v Speaker 1>board now that President Trump has revived his threat to

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<v Speaker 1>remove her over unproven mortgage fraud allegations.

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<v Speaker 3>She says that she's one hundred percent innocent, you know,

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<v Speaker 3>as a human being. I hope that's true, but I

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<v Speaker 3>think that if in the end they're there is a cause.

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<v Speaker 3>Of course, the president has the right to fire her,

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<v Speaker 3>whether there is or not. That's a law enforcement mattern.

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<v Speaker 1>Hassett says he'd either keep rates on hold or cut

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<v Speaker 1>if he were running the FED. White House Economic Advisor

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<v Speaker 1>Kevin Hassett appearing on CNBC. Apple was downgraded to an

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<v Speaker 1>underperformed rating at Jeffries and the latest example of growing

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<v Speaker 1>bearishness toward Apple. Analyst Edison Lee is concerned about the

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<v Speaker 1>outlook for the iPhone, especially Apple's ability to drive higher

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<v Speaker 1>average selling prices.

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<v Speaker 4>Smartphone itself is a very mature product and that's why

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<v Speaker 4>the majority of the demand is going to come from

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<v Speaker 4>replacement demand. And we think that with AI not yet

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<v Speaker 4>taking hold right to change the utility of the smartphone,

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<v Speaker 4>I think that new form factor is important for Apple

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<v Speaker 4>to be able to raise the ASP over time.

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<v Speaker 1>Jeffries analyst Edison Lee on Bloomberg Tech, Apple shares now

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<v Speaker 1>more than two percent lower. Meta has introduced a new

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<v Speaker 1>downloadable AI mode model called news Glimmer that can run

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<v Speaker 1>on a personal computer. Meta CEO Mark Zuckerberg wrote an

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<v Speaker 1>essay saying the company aims to distribute superintelligence widely and

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<v Speaker 1>give every person the ability to direct it rather than

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<v Speaker 1>centralizing it. Meta shares now more than one percent higher.

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<v Speaker 1>Microsoft is reportedly planning to significantly increase production of its

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<v Speaker 1>internally designed next generation AI chips next year. The Information

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<v Speaker 1>reports Microsoft has been in talks with TSMC to secure

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<v Speaker 1>a manufacturing capacity for more than three hundred thousand of

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<v Speaker 1>the chips for delivery in twenty twenty seven. Microsoft's general

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<v Speaker 1>manager for Azuremaiya says the figures don't reflect the scale

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<v Speaker 1>of the program and expects deployments to be measured in gigawatts.

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<v Speaker 1>Microsoft now about two percent higher. Intel says it will

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<v Speaker 1>be offering fifteen billion dollars in common stock, taking advantage

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<v Speaker 1>of renewed interest in its business prospects during the AI

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<v Speaker 1>Data Center boom. Intel says the money will be used

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<v Speaker 1>for general corporate purposes. Shares of Intel nearly four four

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<v Speaker 1>percent lower. Game stop considering withdrawing its fifty six billion

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<v Speaker 1>dollar bit for eBay and may propose a partnership or

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<v Speaker 1>joint venture instead. It was less than a month ago

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<v Speaker 1>GameStop CEO Ryan Cohen told Bloomberg they were focused on eBay.

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<v Speaker 3>I'm not going to call my shots, but We're coming

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<v Speaker 3>for eBay one way or another.

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<v Speaker 1>Partnership could enable eBay to leverage game stops US retail

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<v Speaker 1>locations and increase market share in categories like trading cards

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<v Speaker 1>and collectibles. GameStop shares little changed. That's news when you

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<v Speaker 1>want it with Bloomberg News Now. I'm Amy Morrison. This

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<v Speaker 1>is Bloomberg