WEBVTT - Government Shutdown Averted; Gaza Telecom Services; AI Battle with China;

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<v Speaker 1>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 1>are the stories we're following today.

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<v Speaker 2>President Biden has ended the immediate threat of a government shutdown.

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<v Speaker 2>He has signed a temporary spending bill that extends government

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<v Speaker 2>funding into early next year. Bloomberg's Amy Morris has the

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<v Speaker 2>details from Washington.

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<v Speaker 3>President Biden signed the legislation yesterday while in California for

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<v Speaker 3>a summit of APEC leaders. The bill maintains existing funding

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<v Speaker 3>levels and pushes a fight over the federal budget into

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<v Speaker 3>the new year. When Housublicans say they will push for

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<v Speaker 3>stiff spending cuts. It splits the deadlines for passing full

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<v Speaker 3>year appropriations bills into two days January nineteenth for some

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<v Speaker 3>federal agencies February second for others. This short term package

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<v Speaker 3>allows lawmakers to regroup over the Thanksgiving holiday while talks

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<v Speaker 3>continue on spending in policy agreements in Washington. I maye

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<v Speaker 3>more as Bloomberg Radio.

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<v Speaker 1>Sorry, Amy, thanks by the stopgap bill does not include

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<v Speaker 1>funding for Ukraine and Israel. In fact, new usaid for

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<v Speaker 1>Ukraine risks slipping to mid December and maybe longer, casting

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<v Speaker 1>doubt on Washington's ability to keep up the flow of

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<v Speaker 1>weapons that both the Biden administration and the Ukrainian governments

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<v Speaker 1>say is vital as soon as Congress could complete negotiations

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<v Speaker 1>and pass new Ukraine assistance his mid December, nearly two

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<v Speaker 1>months after President Joe Biden first requested sixty one billion

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<v Speaker 1>dollars for the country in its war against Russia.

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<v Speaker 2>Well, now, Karen, let's turn to the latest on the

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<v Speaker 2>war in the Middle East. Israeli Prime Minister Benjamin Natanyahu

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<v Speaker 2>is defending his country's raid on the Alshifa Hospital in

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<v Speaker 2>Gaza City. He says, Israeli troops uncovered a Hamas command

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<v Speaker 2>center underneath the facility.

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<v Speaker 4>We had concrete evidence that there were terrorists chieftains and terrests.

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<v Speaker 4>There are terrorists minions in the hospital, and in fact

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<v Speaker 4>they fled as our forces approached.

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<v Speaker 5>They fled.

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<v Speaker 4>That's why we had no firefight. We entered that hospital

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<v Speaker 4>with Arabic speaking Israeli doctors with incubators and we had

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<v Speaker 4>no firefight. But Hamas was using the patients in that

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<v Speaker 4>hospital as a human shield.

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<v Speaker 2>Prime Minister n Antanyahu spoke on the CBS Evening News. Meanwhile,

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<v Speaker 2>the Israeli military says it has taken control of Gaza's harbor.

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<v Speaker 2>People in the southern city of Conyunis say Israel has

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<v Speaker 2>dropped leaflets telling them to seek shelter and sirius as

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<v Speaker 2>it's intercepted some Israeli missiles aimed at targets in Damascus.

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<v Speaker 1>Well back in the U, asked Nathan. The Asia Pacific

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<v Speaker 1>Economic Cooperation some it is wrapping up in San Francisco,

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<v Speaker 1>and we're learning more about President Biden's deal with China's

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<v Speaker 1>Sheshin Ping to crack down on Fentanel. The White House

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<v Speaker 1>agreed to remove a Chinese organization accused of human rights

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<v Speaker 1>abuses from its sanctions list change for Beijing's WHO operation

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<v Speaker 1>about an administration official tells Bloomberg taking the Institute of

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<v Speaker 1>Forensic Science off the Commerce Department's entity list was the

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<v Speaker 1>only way for the US to make progress on the

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<v Speaker 1>Fentandel crisis, and.

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<v Speaker 2>At the APEX Summit, Karen the CEO of Alphabet, said

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<v Speaker 2>he expects China to be at the cutting edge of

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<v Speaker 2>artificial intelligence development. Speaking with Bloomberg, Soon Darpshai warned the

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<v Speaker 2>world's two biggest economies will have to work together on

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<v Speaker 2>developing a framework for AI.

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<v Speaker 6>My senses, there is no way you make progress over

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<v Speaker 6>the long term without China and the US deeply talking

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<v Speaker 6>to each other on something like AI. So I think

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<v Speaker 6>that has got to be an integral part of how

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<v Speaker 6>you make progress. So I think I'm glad to see it,

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<v Speaker 6>and you know, we have to lay the foundations. The

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<v Speaker 6>good thing is we are still in early days of

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<v Speaker 6>the technology.

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<v Speaker 2>Alphabet CEO Soon Darpuchai's comments come after business titans including Apples,

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<v Speaker 2>Tim Cook, and Black Rocks Larry Fink, attended dinner with

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<v Speaker 2>China's president on the sidelines of the APEC summit.

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<v Speaker 1>Well, Nathan, we're seeing fall out this morning from Elon

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<v Speaker 1>Musk's endorsement of an anti semitic social media post. A

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<v Speaker 1>Tesla investor is calling for must to resign, and IBM

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<v Speaker 1>has now suspended its advertising on X because of the

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<v Speaker 1>proximity of its ads to Nazi posts. Bloomberg's Ed Baxter

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<v Speaker 1>has the story.

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<v Speaker 7>This comes amidst a swirl of controversy surrounding X and

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<v Speaker 7>Elon Musk. In the past couple of days, watchdog group

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<v Speaker 7>Media Matters reported out that IBM, Apple Oracle, Exfanity, and

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<v Speaker 7>Bravo all had a placement. IBM opted off, saying IBM

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<v Speaker 7>has zero tolerance for hate speech and discrimination. Meanwhile, the

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<v Speaker 7>White House has reacted to a Musk post so that

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<v Speaker 7>it says is anti semitic. NC spokesman John Kirby.

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<v Speaker 1>We certainly abhorror comments that are anti Semitic in tone

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<v Speaker 1>and certainly don't associate ourselves with the comment.

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<v Speaker 7>Musk endorsed a post that said the Jewish community pushed

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<v Speaker 7>hatred toward whites in San Francisco. I'm at Baxter Bloomberg Radio, okay,

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<v Speaker 7>and thank you. Moving to mark It's now we're watching

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<v Speaker 7>shares of applied materials in the pre market. They're down

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<v Speaker 7>more than seven percent. Reuter's is reporting the largest maker

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<v Speaker 7>of chip making machinery in the country is facing a

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<v Speaker 7>criminal investigation for allegedly violating export restrictions to China. The

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<v Speaker 7>report says the Justice Departments looking at whether Applied Materials

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<v Speaker 7>sold hundreds of millions of dollars of equipment without the

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<v Speaker 7>proper licenses.

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<v Speaker 1>And Nathan, the escalating fight between the US and China,

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<v Speaker 1>where technological dominance has triggered one of the most stunning

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<v Speaker 1>reversals of corporate strategy yet. Ali Baba Group has walked

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<v Speaker 1>back plans to spin off in list it's eleven billion

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<v Speaker 1>dollar cloud business. Ali Baba shares dropped nine percent yesterday,

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<v Speaker 1>wiping out more than twenty billion of market value.

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<v Speaker 2>On the flip side, Karen Watching shares of Gap they

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<v Speaker 2>are hired by more than eighteen percent. The retailer reported

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<v Speaker 2>third quarter profit that exceeded forecast. Same store sales fell

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<v Speaker 2>for a fourth straight quarter, but that decline was less

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<v Speaker 2>than expected. Stronger results at Old Navy, GAP's biggest brand

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<v Speaker 2>offset weakness at Athleta and Banana Republic.

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<v Speaker 1>Crude oil has collapsed into a bear market Nathan. It's

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<v Speaker 1>down twenty percent from its September high. CRUs run of

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<v Speaker 1>four straight weekly decline so long as losing streak since

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<v Speaker 1>May has come despite collective and voluntary supply cuts by

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<v Speaker 1>the Organization of petroleum exporting Countries and its allies. The

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<v Speaker 1>losses have also been embedded by the evaporation of an

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<v Speaker 1>Israel Hamas war risk premium as fears the conflict would

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<v Speaker 1>expand and disrupt oil supplies have so far not materialized.

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<v Speaker 1>And it's time now for a look at some other

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<v Speaker 1>stories making news around the world, and for that we're

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<v Speaker 1>joined by Bloomberg's Amy Morris.

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<v Speaker 3>Amy, Good morning, Good morning, Karen. The pressure is building

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<v Speaker 3>for New York Congressman George Santos to resign or face expulsion.

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<v Speaker 3>It follows a scathing House Ethics Committee report. Bloomberg's Nancy

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<v Speaker 3>Lyons has that story.

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<v Speaker 8>Committee Chairman Michael Guest says the evidence uncovered in the

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<v Speaker 8>House investigation is more than sufficient to warrant punishment, and

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<v Speaker 8>he plans to file an expulsion resolution. Wisconsin Republican Congressman

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<v Speaker 8>Brian stone File tells Bloomberg's sound on the findings are alarming.

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<v Speaker 2>The illegal actions that are set forward in this report

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<v Speaker 2>are incredibly concerning.

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<v Speaker 8>The report alleged Santos used campaign money to pay off

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<v Speaker 8>his personal bills and to make luxury purchases. Santos responded

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<v Speaker 8>to the report saying he would not run for reelection

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<v Speaker 8>in Washington. Nancy lyons Bloomberg Radio and.

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<v Speaker 3>That expulsion resolution Nancy was talking about is expected to

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<v Speaker 3>be filed by nine o'clock this morning in Washington. A

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<v Speaker 3>New York appeals court says the gag orders imposed on

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<v Speaker 3>Donald Trump by the judge in the state's civil fraud

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<v Speaker 3>trial against him are unconstitutional, and the restrictions were put

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<v Speaker 3>on hold pending for their arguments. The decision is a

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<v Speaker 3>major win for Trump, who has publicly lambasted the judge

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<v Speaker 3>overseeing the case and accused him of frampant bias. This

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<v Speaker 3>is just one of six trials Trump is facing as

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<v Speaker 3>he seeks re election. California officials say a section of

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<v Speaker 3>Interstate ten in Los Angeles that was damaged in a

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<v Speaker 3>fire last week will reopen earlier then expected. Governor Gavin

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<v Speaker 3>Newsom's said the mile long stretch of interstate will be

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<v Speaker 3>open to traffic again weeks ahead of time after the

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<v Speaker 3>state doubled the crews working on those repairs.

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<v Speaker 2>One thing we can guarantee you is we will be

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<v Speaker 2>opened five lanes in both directions at the latest Tuesday

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<v Speaker 2>of next week.

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<v Speaker 3>Fire officials say the fire was deliberately set in an

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<v Speaker 3>arson investigation is ongoing. Secretary of State Antony Blincoln yesterday

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<v Speaker 3>signed a civil nuclear cooperation agreement with the Philippines. At

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<v Speaker 3>the signing ceremony, Secretary Blincoln said it is part of

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<v Speaker 3>the US support for clean energy projects there with the.

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<v Speaker 5>Philippines leadership, we're also working together to develop a nuclear

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<v Speaker 5>energy sector in their country to fuel a reliable, secure,

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<v Speaker 5>and affordable clean energy future.

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<v Speaker 3>The agreement allows the US to legally export nuclear equipment

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<v Speaker 3>and material to the Philippines for peaceful uses. Global news

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<v Speaker 3>twenty four hours a day and whenever you want it

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<v Speaker 3>with Bloomberg News Now. I'm Maybe Morris and this is

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<v Speaker 3>Bloomberg Karen, all.

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<v Speaker 1>Right, Amy, thank you well. We do bring you news

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<v Speaker 1>throughout the day right here on Bloomberg. But now, as

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<v Speaker 1>Amy said, you can get the latest news on demand

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<v Speaker 1>whenever you want it. To subscribe to Bloomberg News Now

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<v Speaker 1>to get the latest headlines of the click of a button.

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<v Speaker 1>Get informed on your schedule. You can listen and subscribe

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<v Speaker 1>to Bloomberg News Now on the Bloomberg Business app, Bloomberg

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<v Speaker 1>dot Com plus apples, Spotify, and anywhere else you get

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<v Speaker 1>your podcasts. It is time now for the Bloomberg Sports Update,

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<v Speaker 1>and here's John stash Hour, John Karen.

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<v Speaker 9>Big game in the AFC North the kickoff week eleven

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<v Speaker 9>the Bengals and the Ravens. They both had four game

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<v Speaker 9>industries come to an end this past Sunday. All the

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<v Speaker 9>More started things off with a seventy five hour touchdown drive.

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<v Speaker 9>The Ravens then trailed in the second quarters.

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<v Speaker 3>Edwards in the backfield. Lamarta throw fires down the middle.

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<v Speaker 9>It's deflected at part, have a reflection.

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<v Speaker 7>Milsan Hagalore twenty fifteen come bo.

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<v Speaker 3>Heflected for six. Hagle a deflection.

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<v Speaker 9>Rave into the end zone Wbal. About a minute a

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<v Speaker 9>half later, another Lamar Jackson TD passed. The Ravens beat

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<v Speaker 9>the Bengals thirty four to twenty. Baltimore's eight and three

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<v Speaker 9>and in first place. Cincinnati is just five and five

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<v Speaker 9>and in the last place NBA and Miami. They he

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<v Speaker 9>won their seventh in a row. Jemmy Butler scored thirty

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<v Speaker 9>six in a win over Brooklyn. Oklahoma City made it

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<v Speaker 9>five to last six, winning one twenty eight one to

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<v Speaker 9>nine at Golden State. The Warriors have lost five in

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<v Speaker 9>a row. They're just one and five at home. They

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<v Speaker 9>went thirty three at and eight at home. Last year.

0:10:24.800 --> 0:10:27.120
<v Speaker 9>They rode out the injured Steph Curry and without the

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<v Speaker 9>suspended Draymond Green. MLB owners approved thirty to nothing in

0:10:32.080 --> 0:10:34.400
<v Speaker 9>the move of the Oakland A's to Las Vegas, and

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<v Speaker 9>they waive the relocation fee. The A's will be in

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<v Speaker 9>Oakland in twenty twenty four, but the plan is to

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<v Speaker 9>beat a new stadium in Vegas by twenty twenty eight.

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<v Speaker 9>It's unclear where they might be playing in between. It's

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<v Speaker 9>the first time an MLB team has moved in Montreal.

0:10:48.480 --> 0:10:52.000
<v Speaker 9>Expos went to Washington in two thousand and five. Baseball

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<v Speaker 9>has given the twenty twenty five All Star Game to Atlanta,

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<v Speaker 9>who had it taken away after that voting law was

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<v Speaker 9>passed in twenty twenty one.

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<v Speaker 7>John Stasha our Bloomberg Sport.

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<v Speaker 5>From coast to coast, from New York to San Francisco,

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<v Speaker 5>Boston to Washington, d C. Nationwide on SYRIASXAM, the Bloomberg

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<v Speaker 5>Business app, and Bloomberg dot Com. This is Bloomberg.

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<v Speaker 2>Daybreak, Good morning, I'm Nathan Hager. China will be at

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<v Speaker 2>the forefront of artificial intelligence. That's what the CEO of

0:11:23.520 --> 0:11:26.040
<v Speaker 2>Alphabet soon Dar Pashai, is saying. He says it is

0:11:26.080 --> 0:11:29.320
<v Speaker 2>important for the US to collaborate with China on both

0:11:29.400 --> 0:11:34.240
<v Speaker 2>regulation and innovation when it comes to AI. Pieshai, along

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<v Speaker 2>with executives from Microsoft, City Group and Tesla, have been

0:11:37.640 --> 0:11:40.959
<v Speaker 2>meeting with Chinese President Shi Jinping and US President Joe

0:11:41.000 --> 0:11:45.199
<v Speaker 2>Biden at the APEX summit in San Francisco. After those meetings,

0:11:45.360 --> 0:11:49.160
<v Speaker 2>the Alphabet CEO joined Bloomberg's Emily Chang and told her

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<v Speaker 2>the world's two biggest economies do need to work together

0:11:52.440 --> 0:11:54.760
<v Speaker 2>on AI regulation and development.

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<v Speaker 6>It's not going to be easy, but I would start

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<v Speaker 6>from this PREMI is that AI will proliferate, So this

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<v Speaker 6>is not the inherent nature of software. AI advances will

0:12:08.520 --> 0:12:12.640
<v Speaker 6>get out to in all countries, and so it is

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<v Speaker 6>naturally the kind of technology. I don't think there's any

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<v Speaker 6>unilateral safety to be had. We all have a shared

0:12:20.760 --> 0:12:23.959
<v Speaker 6>incentive to solve for safety. You know, you could have

0:12:25.000 --> 0:12:28.280
<v Speaker 6>AI go wrong in one country that will impact every

0:12:28.320 --> 0:12:31.040
<v Speaker 6>other country. So in some ways, it's like climate change.

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<v Speaker 6>In the planet. We all share a planet. I think

0:12:33.520 --> 0:12:37.000
<v Speaker 6>that's true for AI. So now that you know that

0:12:37.000 --> 0:12:39.280
<v Speaker 6>that will be true, I think you have to start

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<v Speaker 6>building the frameworks globally to make progress. I've seen encouraging

0:12:45.480 --> 0:12:49.240
<v Speaker 6>progress when the G seven happened in Hiroshima, I think

0:12:49.240 --> 0:12:52.600
<v Speaker 6>it was a good start. You've seen more progress the

0:12:52.720 --> 0:12:56.240
<v Speaker 6>Uki summit last week. The administration here, the White House

0:12:56.280 --> 0:12:59.839
<v Speaker 6>has been leading the way as well, and I saw

0:13:00.080 --> 0:13:05.320
<v Speaker 6>good encouraging announcements even yesterday for US in China to

0:13:05.400 --> 0:13:07.479
<v Speaker 6>start having a dialogue on AI.

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<v Speaker 10>Well, that was my next question. Should Chinese regulators be

0:13:10.280 --> 0:13:12.240
<v Speaker 10>part of this conversation on AI regulation?

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<v Speaker 6>My sense is there is no way you make progress

0:13:15.720 --> 0:13:20.640
<v Speaker 6>over the long term without China and the US deeply

0:13:20.679 --> 0:13:23.240
<v Speaker 6>talking to each other on something like AI. So I

0:13:23.240 --> 0:13:25.240
<v Speaker 6>think that has got to be an integral part of

0:13:25.280 --> 0:13:29.120
<v Speaker 6>how you make progress. So I think I'm glad to

0:13:29.160 --> 0:13:32.600
<v Speaker 6>see it. And you know, we have to lay the foundations.

0:13:32.800 --> 0:13:34.440
<v Speaker 6>The good thing is we are still in early days

0:13:34.440 --> 0:13:39.160
<v Speaker 6>of the technology, so laying the foundations now will allow

0:13:39.240 --> 0:13:41.160
<v Speaker 6>us to work through the tough issues and build a

0:13:41.200 --> 0:13:42.320
<v Speaker 6>common framework over time.

0:13:42.840 --> 0:13:45.720
<v Speaker 10>How do you think AI? And obviously the US presidential

0:13:45.720 --> 0:13:47.439
<v Speaker 10>election coming up as well. How do you think AI

0:13:47.520 --> 0:13:49.920
<v Speaker 10>is going to further test election integrity?

0:13:50.360 --> 0:13:53.600
<v Speaker 6>I think you know, over time, it's going to lower

0:13:53.679 --> 0:13:58.440
<v Speaker 6>the barrier for creating you know, artificial information which may

0:13:58.559 --> 0:14:01.040
<v Speaker 6>or may not matror what's happening in the real world, right,

0:14:01.720 --> 0:14:05.240
<v Speaker 6>and that barrier will come down. So in this cat

0:14:05.320 --> 0:14:08.920
<v Speaker 6>and mouse game, how do we amp up our defenses

0:14:09.600 --> 0:14:13.480
<v Speaker 6>against that. We are in early stages, right. You know,

0:14:13.480 --> 0:14:16.000
<v Speaker 6>we were one of the first companies to announce a

0:14:16.080 --> 0:14:20.200
<v Speaker 6>water marketing technology for image generation. It's called Synthide, done

0:14:20.240 --> 0:14:23.200
<v Speaker 6>by deep Mind, and we are providing API access to it.

0:14:24.080 --> 0:14:27.560
<v Speaker 6>But all of us need to tackle it. These are

0:14:27.600 --> 0:14:30.440
<v Speaker 6>areas where regulation will have to play a role, right.

0:14:30.480 --> 0:14:34.560
<v Speaker 6>I think governments will have to overtime pass regulations about

0:14:34.560 --> 0:14:38.360
<v Speaker 6>what is okay for you some of this synthetic content

0:14:38.840 --> 0:14:40.280
<v Speaker 6>and so, which is why I think you have to

0:14:40.320 --> 0:14:42.160
<v Speaker 6>think about it together.

0:14:43.000 --> 0:14:45.600
<v Speaker 10>Open AI CEO Sam Mollman has said repeatedly he wants

0:14:45.640 --> 0:14:47.960
<v Speaker 10>to know more about what's happening with AI in China.

0:14:48.480 --> 0:14:50.200
<v Speaker 10>What do you know and what do you not know

0:14:50.400 --> 0:14:52.640
<v Speaker 10>about where China is on AI.

0:14:53.160 --> 0:14:55.960
<v Speaker 6>From what I can tell, they're making deep investments in AI.

0:14:56.680 --> 0:15:00.440
<v Speaker 6>The scale of AI research talent in China. It's just

0:15:00.440 --> 0:15:05.320
<v Speaker 6>simply astounding to see. So I think, you know, in

0:15:05.360 --> 0:15:07.880
<v Speaker 6>some ways this question, China is going to be at

0:15:07.880 --> 0:15:10.600
<v Speaker 6>the forefront of AI, and you know, I think that's

0:15:10.640 --> 0:15:14.720
<v Speaker 6>a given. And so the question is how do we

0:15:14.840 --> 0:15:18.720
<v Speaker 6>work over time, both for you know, other countries to

0:15:18.720 --> 0:15:21.560
<v Speaker 6>make sure you're making progress in AI and over time,

0:15:21.640 --> 0:15:25.400
<v Speaker 6>how do we develop the frameworks where you know, countries

0:15:25.440 --> 0:15:28.680
<v Speaker 6>can coexist peacefully in a world in which AI will

0:15:28.720 --> 0:15:30.200
<v Speaker 6>be you know, everywhere.

0:15:31.120 --> 0:15:34.120
<v Speaker 10>You know, President Biden actually just said he doesn't see

0:15:34.160 --> 0:15:36.760
<v Speaker 10>the USD coupling with China, but the world does seem

0:15:36.800 --> 0:15:40.120
<v Speaker 10>to be on a path to two separate internets. Do

0:15:40.200 --> 0:15:42.520
<v Speaker 10>we continue in that direction? And what does that mean?

0:15:43.200 --> 0:15:46.360
<v Speaker 6>It's tough to say. You know, things go through in phases.

0:15:47.120 --> 0:15:49.120
<v Speaker 6>I think we are definitely in a phase where there

0:15:49.120 --> 0:15:54.320
<v Speaker 6>are more forces pulling it apart. But you know, inherently

0:15:54.360 --> 0:16:00.320
<v Speaker 6>these technologies also facilitate easy exchange of information, so I

0:16:00.400 --> 0:16:03.000
<v Speaker 6>think there are countervailing forces as well, So I think

0:16:03.040 --> 0:16:06.040
<v Speaker 6>it's tough to predict. I do think information wants to

0:16:06.080 --> 0:16:09.960
<v Speaker 6>flow freely by nature, So you know, my hope is

0:16:10.040 --> 0:16:13.360
<v Speaker 6>over time, you know, thanks to couple back again.

0:16:15.880 --> 0:16:18.960
<v Speaker 2>This is Bloomberg Daybreak today, your morning brief on the

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