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