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Speaker 1: News when you want it with Bloomberg News Now, I

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Speaker 1: made callegip TikTok says it will be forced to go

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Speaker 1: dark in the US Sunday unless there is a clear

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Speaker 1: statement from the Biden administration to service providers that are

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Speaker 1: maintaining its availability. Statements issued on Friday by the White

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Speaker 1: House and the Department of Justice have failed to provide

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Speaker 1: the necessary clarity and assurance to the service providers. The

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Speaker 1: company said this in a post on x. The Supreme

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Speaker 1: Court Friday unanimously upheld the law that threatens to shut

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Speaker 1: down the wildly popular social media platform in the US

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Speaker 1: as soon as Sunday. President Joe Biden told reporters after

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Speaker 1: the ruling that a decision on the app will be

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Speaker 1: made by his successor, Donald Trump, who takes office Monday.

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Speaker 1: Stock's powered ahead to notch their best week since the

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Speaker 1: November presidential election. Most groups in the S and P

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Speaker 1: five hundred rows, with the gauge up one percent Friday.

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Speaker 1: Nvidia and Tesla lead gains in megacaps, while Intel jumped

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Speaker 1: more than nine percent after a report the chip maker

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Speaker 1: is an acquisition target, Also aiding sentiment where headlines that

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Speaker 1: Trump and Chinese president Hijinping discuss trade, TikTok and fentanyl,

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Speaker 1: which could set the tone for relations between the world's

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Speaker 1: two largest economies. Director Philip Swegel says that even if

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Speaker 1: twenty seventeen Trump tax cuts are allowed to expire, the

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Speaker 1: Congressional Budget Office is forecasting soaring deficits in the next

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Speaker 1: ten years as Social Security, Medicare, and payments on the

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Speaker 1: debt go up.

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Speaker 2: Those tax changes increase revenues, reduce federal borrowing, and make

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Speaker 2: more funds available for private investment. At the same time,

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Speaker 2: the tax changes reduce the supply of labor, diminished incentives

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Speaker 2: in the tax code for saving an investment, and reduce

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Speaker 2: the overall demand for goods and services.

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Speaker 1: Congressional Budget Office Director Philip Swegel, President to Lank Trump

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Speaker 1: says he will move his swearing in ceremony and inaugural

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Speaker 1: address indoors due to extreme cold forecast in Washington for Monday.

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Speaker 1: Former RNC communications director and republicansist Lisa Camuso Miller.

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Speaker 3: Says these are the kinds of contingencies that Secret Service

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Speaker 3: and law enforcement in the Capital consider every single time

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Speaker 3: we inaugurate a president. So the fact that they've advised

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Speaker 3: this that they think that this is the right council

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Speaker 3: is good.

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Speaker 1: Lisa Camuso Miller speaking with Bloomberg's Joe Matthew in nineteen

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Speaker 1: eighty five Ronald Reagan's second inaugural ceremony. It was moved indoors,

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Speaker 1: with the thermometer that day hitting seven degrees at noon

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Speaker 1: and afternoon wind shills as low as twenty below. The

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Speaker 1: US government is targeting Novo Nordisk's blockbuster weight loss drugs

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Speaker 1: Osepic and Wagovi. The drugs will be subject to price

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Speaker 1: negotiations in an effort to reduce Medicare costs. The legislation

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Speaker 1: hopes to save the government more than two hundred billion

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Speaker 1: dollars over a decade. SAM for Selling of Bloomberg Intelligence

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Speaker 1: on what this means for Novo.

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Speaker 4: I mean, look, at the end of the day, they

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Speaker 4: don't They're not going to change their this price necessarily,

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Speaker 4: They're going to end up having to write a check

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Speaker 4: to the federal government for whatever that diferences in terms

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Speaker 4: of the negotiated price. Not sure this will actually help

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Speaker 4: the patients necessarily, depending on the way the plans are operated.

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Speaker 1: SAM for selling you Bloomberg Intelligence. Amazon is pausing all

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Speaker 1: commercial drone deliveries after two of its latest models crashed

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Speaker 1: in rainy weather at a testing facility. The company said

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Speaker 1: Friday was immediately suspending drone deliveries in Texas and Arizona

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Speaker 1: to fix the aircraft's software. It is the latest setback

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Speaker 1: for a program inching toward widespread commercial service, more than

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Speaker 1: eleven years after Amazon founder Jeff Bezos announced an initiative

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Speaker 1: to build drones capable of delivering products to customers in

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Speaker 1: less than a half an hour. Few infernos in American

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Speaker 1: history have led to ships and how the country plans, cities, builds, structures,

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Speaker 1: and insures against risk. The LA wildfires should change the

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Speaker 1: way we live. You can read all about it in

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Speaker 1: Bloomberg's weekend edition, exploring the places where finance, life and

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Speaker 1: culture meet. Find it now on Bloomberg dot com, in

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Speaker 1: the Bloomberg Business app. The Fridays on Wall Street, the

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Speaker 1: Tow was up three point thirty five, NaSTA Game two

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Speaker 1: ninety two, the S and P It was up fifty nine.

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Speaker 1: And that's news when you want it with Bloomberg News Now.

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Speaker 1: I made Klenki and this is Bloomberg