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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 2: Karen, we begin with the latest on efforts to end

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Speaker 2: the war in Ukraine. The country has agreed on a

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Speaker 2: deal with the US to jointly develop its natural resources.

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Speaker 2: Sources say Ukraine's cabinet is expected to recommend today that

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Speaker 2: the deal be signed in President Vladimir Zelenski's planning to

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Speaker 2: travel to the US on Friday to seal the agreement.

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Speaker 2: Here's President Trump speaking from the Oval Office.

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Speaker 4: I hear that he's coming on Friday.

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Speaker 5: Certainly, it's okay with me if we'd like to, and

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Speaker 5: he would like to sign it together with me, and

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Speaker 5: I understand that's a big deal.

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Speaker 2: Sources say the deal came together after the US dropped

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Speaker 2: a demand for Kiv to pay five hundred billion dollars

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Speaker 2: from resource extraction to a fund as a form of

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Speaker 2: aid repayment. This framework agreement would create a joint US

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Speaker 2: Ukraine fund to manage future natural resource revenues.

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Speaker 3: Well, Nathan and President Trump's plans to cut taxes have

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Speaker 3: taken a big step forward on Capitol Hill, House Republicans

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Speaker 3: have passed a budget blueprint that would make deep cuts

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Speaker 3: to safety net programs like Medicaid to pave the way

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Speaker 3: for four and a half trillion dollars in tax cuts.

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Speaker 3: It's a victory for House Speaker Mike Johnson.

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Speaker 6: We are going to deliver the American First Agenda. We're

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Speaker 6: going to deliver all of it, not just parts of it,

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Speaker 6: and this was the first step in that process.

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Speaker 3: House Speaker Mike Johnson's plan was endowed for much of

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Speaker 3: the day. He initially canceled a vote, with four Republicans

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Speaker 3: holding out, but after phone calls from President Trump, just

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Speaker 3: one Republican, Thomas Massey, joined with Democrats in voting against it.

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Speaker 3: The bill now heads to the Senate, where more changes

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Speaker 3: could be made, and that could lead to more objections

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Speaker 3: from House Republicans Well Karen.

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Speaker 2: President Trump could be opening the door to a new

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Speaker 2: tariff on medals. President has signed an executive action for

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Speaker 2: the Commerce Department to explore a levy on copper. Senior

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Speaker 2: Administration officials say it's a national security issue. The dumping

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Speaker 2: and overcapacity have left US weapons systems and other critical

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Speaker 2: products dependent on foreign copper. The officials say it's too

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Speaker 2: soon to discuss a potential rate for the tariffs, Nathan.

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Speaker 3: President Trump is also making a move on immigration. The

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Speaker 3: President says he will offer residency and a path to

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Speaker 3: citizenship to people who pay at least five million dollars

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Speaker 3: on projects in the US.

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Speaker 7: He says the plan.

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Speaker 3: Will launch in two weeks and won't need congressional approval.

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Speaker 5: We're going to be selling a gold card.

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Speaker 4: You have a green card. This is a gold card.

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Speaker 5: We're going to be putting a price on that card

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Speaker 5: of about five million dollars, and that's going to give

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Speaker 5: you green card privileges. Plus, it's going to be a

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Speaker 5: route to citizenship, and wealthy people will be coming into

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Speaker 5: our country by buying this card.

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Speaker 4: They'll be wealthy.

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Speaker 3: Commerce Secretary Howard Ludenek says the move could replace the

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Speaker 3: existing EB five visa program, which allows immigrants to acquire

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Speaker 3: Green cards by investing a certain amount in a US business.

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Speaker 2: Thank Karen, President Trump's plan to take over and develop

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Speaker 2: Gaza maybe taking shape. Trump's special Middle East en voice

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Speaker 2: Tam Wickcoff says they're planning a summit with real estate

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Speaker 2: developers and planners in the Middle East. Wickcoff isn't saying

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Speaker 2: where this gathering would happen or when, but he says

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Speaker 2: many countries have contacted the US about being part of

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Speaker 2: a permanent solution for Gaza's residence. Witcoff's comments come as

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Speaker 2: Israel tries to extend a ceasefire with Hamas that's set

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Speaker 2: to expire this weekend.

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Speaker 3: Well, turning to the markets now, Nathan and skepticism about

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Speaker 3: potential tariffs and federal cost cutting efforts maybe taking a

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Speaker 3: toll on investors. The S and P five hundred has

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Speaker 3: dropped more than three percent over the past four trading days,

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Speaker 3: and the selloff is affecting Elon Musk. His net worth

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Speaker 3: fell by twenty two point two billion dollars yesterday. That's

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Speaker 3: his fourth largest one day loss. Tesla makes up more

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Speaker 3: than half of Musk's fortune. That stock dropped more than

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Speaker 3: eight percent. Tesla sales in Europe plunge nearly in half.

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Speaker 3: In January. Elon Musks favorability there has stumbled as he's

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Speaker 3: inserted himself into Europe's politics.

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Speaker 2: Well, Karen, the direction of markets for the rest of

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Speaker 2: this week will be greatly influenced by Nvidia the AI

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Speaker 2: Darling reports earnings this afternoon, and Bloomberg's John Tucker is

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Speaker 2: here with a preview. This is hotly anticipated.

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Speaker 6: Johnny, Yeah, and Nathan Chip demand China and Donald Trump.

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Speaker 6: They're going to be on investors' minds. As in Vidia

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Speaker 6: reports after the close. The results come just over a

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Speaker 6: month after the launch of Deep seeks cheaper AI alternative,

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Speaker 6: and as you know, that's secured investors into thinking there

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Speaker 6: may be a dramatic drop off in demand for equipment

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Speaker 6: like in Vidia's chips at US restrictions on selling to

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Speaker 6: China may be a cloud. That's according to Dan Ives

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Speaker 6: at Wedbush Securities.

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Speaker 8: I think some of this stuff does go to the background,

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Speaker 8: but no doubt it has.

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Speaker 5: Been white knuckles to start the year.

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Speaker 3: You're just giving you don't know what's going to come

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Speaker 3: out from a regulatory perspective.

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Speaker 4: In terms of this U as China called tech warm.

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Speaker 6: The investors will want forward guidance related to Invidia's next

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Speaker 6: generation black Whale chip. Back in the fall, CEO Jensen

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Speaker 6: Wang said demand was insane. The Bloomberg consensus call for

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Speaker 6: revenue three eight point twenty five billion dollars pre marketing

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Speaker 6: video shares up two and a half percent in new

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Speaker 6: York on John Tucker Bloomberg Radio.

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Speaker 3: Right, John, thank you well. Nvidia, of course, is one

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Speaker 3: of the so called Magnificent Seven, and it has been

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Speaker 3: anything but a magnificent start of the year for the

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Speaker 3: group that's powered most of the S and P five

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Speaker 3: hundreds gains over the past two years. The Bloomberg Magnificent

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Speaker 3: seven Index has fallen almost ten percent from a December high,

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Speaker 3: erasing about one point four trillion dollars in value. The

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Speaker 3: mag seven Index is an equal a weighted gauge of

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Speaker 3: Nvidia along with Apple, Alphabet, Amazon, Meta, Microsoft in Tesla.

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Speaker 3: People have full coverage and analysis of Nvidia's earnings on

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Speaker 3: Bloomberg Radio and the Bloomberg Podcast page on YouTube.

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Speaker 9: Well.

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Speaker 2: Speaking of the Magnificent Seven, Karen one of those Apple

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Speaker 2: may be getting an iPhone band lifted. In Indonesia, Apple

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Speaker 2: has signed an investment agreement paving the way for sales

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Speaker 2: of the iPhone sixteen to resume in Southeast Asia's largest nation.

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Speaker 2: The pact is set to end a five month tussle

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Speaker 2: that began in October after Indonesia refused to issue a

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Speaker 2: sales permit to Apple, citing failure to comply with domestic

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Speaker 2: manufacturing requirements for smartphones and tablets at.

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Speaker 3: Bank of America to the list of Wall Street firms

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Speaker 3: scrappingdi plans, Nathan, the bank is rolling back workplace representation

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Speaker 3: targets and replacing references to diversity, citing legal changes under

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Speaker 3: the Trump administration. In an interview you heard right here

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Speaker 3: on Bloomberg Radio, Bank of America CEO Brian Monahan told

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Speaker 3: David Rubinstein about the company's recent inclusion efforts.

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Speaker 10: We have a very diverse company in terms of representation

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Speaker 10: from all economic stratus, all races, au ethnicities. Once they

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Speaker 10: get in, the opportunity is there for a lifetime. We

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Speaker 10: equal pay for equal work, the ability to promote, we train,

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Speaker 10: we do all the work, and so the idea is

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Speaker 10: that's an opportunity.

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Speaker 3: Bank of America CEO Brian Monahan says the bank will

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Speaker 3: no longer have aspirational goals for diversity and inclusion and

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Speaker 3: will replace references to diversity with talent and opportunity. In

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Speaker 3: its annual report.

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Speaker 2: Weally, Karen, we want to let you know about something new.

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Speaker 2: For Bloomberg dot Com subscribers get the Going Private newsletter.

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Speaker 2: It's delivered to your inbox Wednesdays and Fridays, bringing you

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Speaker 2: coverage of private markets and the forces moving capital away

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Speaker 2: from the public eye. Subscribe to the Going Private newsletter

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Speaker 2: now at bloomberg dot com slash Going Private.

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Speaker 3: Time Now for a look at some of the other

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Speaker 3: stories making news in New York and around the world.

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Speaker 3: And for that we're joined by Bloomberg's Michael Barr.

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Speaker 9: Michael, Good morning, Good morning, Karen. New Jersey Governor Phil

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Speaker 9: Murphy has unveiled a fifty eight point one billion dollar

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Speaker 9: budget proposal for the fiscal years starting July first. It

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Speaker 9: caps new discretionary spending and relies on twenty seven point

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Speaker 9: nine billion dollars in federal funds. The proposal includes cunts

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Speaker 9: to various departments such as agriculture and environmental Protection. Murphy,

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Speaker 9: in his address at the state capitol in Trenton, also

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Speaker 9: says working families have been pummeled by ryan prices, with

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Speaker 9: the noise of chaos louder than ever in Washington.

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Speaker 3: We need to keep fighting with every fiber of our

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Speaker 3: being for.

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Speaker 2: Our children, workers, parents, senior citizens, and every New Jersey

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Speaker 2: and who was struggling to get by.

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Speaker 9: The NTSB and FAA are investigating a close call at

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Speaker 9: Chicago's Midway Airport between a Southwest Airlines Boeing seven thirty

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Speaker 9: seven and a business jet. As the Southwest flight from

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Speaker 9: Omaha was touching down, the business jet crossed the runway

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Speaker 9: in front of it. The Southwest pilots, right as the

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Speaker 9: wheels were about to touch the runway, push the throttles

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Speaker 9: up and took off. Air Traffic controllers could be heard

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Speaker 9: telling the business jet not to cross the runway, but

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Speaker 9: it did anyway, retire Marine Fighter pilot Colonel Stephen Ganiard.

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Speaker 2: If the Southwest crew hadn't been so alert and seeing

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Speaker 2: this aircraft crossing the runway, this could have been a terrible,

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Speaker 2: terrible tragedy.

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Speaker 9: The White House says its officials will determine which news

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Speaker 9: outlets cover President Donald Trump Hose Press Secretary Caroline.

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Speaker 11: Lovin Legacy outlets who have participated in the press pool

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Speaker 11: for decades will still be allowed to join, fear not,

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Speaker 11: but we will also be offering the privilege to well

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Speaker 11: deserving outlets who have never been allowed to share in

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Speaker 11: this awesome responsibility.

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Speaker 9: Levitt says the move would restore access back to the

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Speaker 9: American people who elected Trump. Global News twenty four hours

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Speaker 9: a day and whenever you want it with Bloomberg News Now,

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Speaker 9: Michael Barn, This is Bloomberg Carron.

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Speaker 3: All right, Michael Barn, thank you. Time now for the

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Speaker 3: Bloomberg Sports Update, brought to you by Trying State OUTI.

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Speaker 3: Here's John Stanshawer, John.

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Speaker 1: Good morning, Good morning. Cans for an uphill climb for

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Speaker 1: the Rangers trying to make the playoffs despite that horrendous

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Speaker 1: stretch when they lost fifteen out of nineteen games the

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Speaker 1: Ubs Arena. They meet the Islanders five to one. Johnny

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Speaker 1: Presents given a pair of first period goals, even Matt

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Speaker 1: Rimpy scored, and the Rangers are now two points behind

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Speaker 1: Columbus to the last playoff spot in the East. Washington

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Speaker 1: lost in Calgary three to one, but Alexavetchkin's scored the

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Speaker 1: Caps goal, his thirtieth of the season. He needs twelve

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Speaker 1: more goals for Wayne Gretzky's career goal scoring record. It

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Speaker 1: was Boston against Toronto in the NHL and NBA.

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Speaker 7: A TV Garden.

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Speaker 1: The Bruins blew a three to nothing lead, lost to

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Speaker 1: the Maple Leaves five to four, and overtime. In Toronto,

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Speaker 1: Celtics beat the Raptors one eleven one oh one in

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Speaker 1: LA the Lakers beat Dallas one oh seven ninety nine.

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Speaker 1: Luca Donsin's faced his former team had a triple double.

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Speaker 1: Knicks come off that lost weekend, those losses in Cleveland

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Speaker 1: and Boston. They're at the Garden tonight to play Philadelphia

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Speaker 1: Saint John's. With a win tonight at Butler clinches at

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Speaker 1: least a tie for the Big East regular season title.

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Speaker 1: What didn't Diana Tarassi do in her career? Three NC

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Speaker 1: double championships at Yukon led Phoenix to three titles in

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Speaker 1: the WNBA, where she scored the most points in the

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Speaker 1: league history, six Olympic gold medals. Tarasse retiring at age

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Speaker 1: forty two. The NFL scouting combine underway in Indianapolis. Giants

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Speaker 1: GM Joe Sheen looking for a quarterback, either a rookie

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Speaker 1: or a veteran or maybe both.

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Speaker 8: You know, yeah, we don't know what's going to happen

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Speaker 8: in the draft. We don't know who's going to be there.

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Speaker 8: You know, when we get around these kids, they may

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Speaker 8: or may not be a fit for us. So you know,

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Speaker 8: we're gonna have to dress the position somewhere. And even

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Speaker 8: if you get a young quarterback you'd like to have

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Speaker 8: a vet, you know, in the room with them to

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Speaker 8: show them the ropes and how to be a pro. So,

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Speaker 8: you know, we're looking at all different avenues. It's Hey,

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Speaker 8: is this guy gonna be really good for a young quarterback?

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Speaker 8: Or is this guy a starter?

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Speaker 1: Cleveland GM Andrew Berry says the Browns are not going

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Speaker 1: to trade Miles Garrett, who's tired of losing once out.

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Speaker 1: Kansas City GM. Brett Beach wait in on Travis Kelsey

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Speaker 1: said he believes Kelsey will not retire. John Stasha, We're

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Speaker 1: Bloomberg Sports.

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Speaker 3: Karen Nathan.

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Speaker 9: Coast to coast on Bloomberg Radio, nationwide on Sirius XM.

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Speaker 1: And around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app.

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Speaker 7: This is Bloomberg Daybreak. Good morning.

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Speaker 2: I'm Nathan Hager. Ukraine may have a deal to develop

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Speaker 2: its resources jointly with the US and move toward a

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Speaker 2: ceasefire with Russia. President Vladimir Zelenski's expected to head to

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Speaker 2: the White House on Friday to seal the agreement. It

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Speaker 2: backs off and an initial demand from the US for

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Speaker 2: a half trillion dollars as a form of repayment for

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Speaker 2: aid but President Trump says he is getting what he wants.

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Speaker 5: It could be a trillion dollar deal, it could be whatever.

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Speaker 4: But it's rareer and other things.

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Speaker 5: And look, we're spending hundreds of billions of dollars on

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Speaker 5: Ukraine and Russia fighting a war that should have never

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Speaker 5: ever happened.

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Speaker 2: President Trump, speaking from the Oval Office, has heard on

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Speaker 2: Bloomberg Radio for more. We're joined by Bloomberg News Senior

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Speaker 2: editor Bill Ferries and Bill just listening to those comments,

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Speaker 2: it sounds like the President is sort of glossing over

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Speaker 2: the details. But let's get into the details.

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Speaker 7: What is in this deal? Good morning, Good morning, Nathan.

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Speaker 12: Well, I think we almost know more about what's not

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Speaker 12: in the deal at this point than we know what's

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Speaker 12: exactly in the deal. But as you mentioned, what's not

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Speaker 12: in in it is is that initial five hundred billion

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Speaker 12: dollar requests that the US had to get repaid for

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Speaker 12: its support to Ukraine over the last three years of

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Speaker 12: this war. It seems to be more of a kind

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Speaker 12: of a framework agreement that will create a fund jointly

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Speaker 12: managed by the US and Ukraine based on revenue that

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Speaker 12: comes from developing rarer and perhaps.

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Speaker 7: Other natural resources in Ukraine.

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Speaker 12: We don't know what that fund is expected to top

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Speaker 12: out at, and we don't exactly know what that fund

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Speaker 12: is going to spend its money on. But it seems

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Speaker 12: like both sides have agreed in this situation.

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Speaker 7: They've agreed to agree, and.

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Speaker 12: That's probably for Ukraine the most important part of this.

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Speaker 12: If you remember, just last week, we were watching the

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Speaker 12: US Ukraine relationship melt down as Trump called Zelensky a

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Speaker 12: little dictator and Zolensky said that Trump was living in

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Speaker 12: a disinformation space. So things we're looking very rocky a

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Speaker 12: week ago, Zelensky coming into Washington now looks like they've

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Speaker 12: agreed to at least be in the same room and talk.

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Speaker 12: We don't think there are, as far as we know,

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Speaker 12: security guarantees for Ukraine and all of this, but it's

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Speaker 12: probably as much as they're going to get at this point,

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Speaker 12: and they keep that relationship with the US functioning.

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Speaker 2: Okay, So where does this leave things when it comes

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Speaker 2: to getting closer to a resolution between Russia and Ukraine

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Speaker 2: and with Europe as well. Of course, in the talks

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Speaker 2: with US and Russian officials, Europe was kind of left

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Speaker 2: on the sidelines.

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Speaker 12: They were left on the sidelines in what seems to

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Speaker 12: be a process that's unfolding very very quickly. You know,

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Speaker 12: Donald Trump just a few days ago said that he

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Speaker 12: could be meeting with Vladimir Putin within a couple weeks.

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Speaker 12: So I think where it leaves the overall situation, it

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Speaker 12: gives Ukraine a chance to show that it's willing and

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Speaker 12: able to strike a deal with the US that I think,

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Speaker 12: from their perspective, keeps them at the table as the

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Speaker 12: Trump administration pushes forward as quickly as possible, as quickly

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Speaker 12: as they can to reach a deal with Russia. President

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Speaker 12: Trump already talking about the potential for easing sanctions on

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Speaker 12: Russia doing deals natural resource deals with Russia. I think

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Speaker 12: Europe and Ukraine have been watching that with a lot

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Speaker 12: of alarm at this point. They're glad to find something

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Speaker 12: that gets Zelensky to sit at a table with Trump

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Speaker 12: and reach a deal.

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Speaker 2: And in terms of the kind of investment that we

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Speaker 2: could see come out of this bill, there's a question

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Speaker 2: about just how much resources Ukraine has, isn't there in

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Speaker 2: terms of critical minerals, we have about a minute left.

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Speaker 12: Yeah, I mean there have been reports of trillions of

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Speaker 12: dollars in mineral deposits.

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Speaker 7: But the reality is when you talk.

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Speaker 12: About rare earth reserves, Ukraine has no rare earth reserves

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Speaker 12: that are really recognized internationally as economically viable. So that's

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Speaker 12: where a lot of questions I think are going to

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Speaker 12: come up on how much money would really go into

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Speaker 12: this fund? Is it really an economic deal or is

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Speaker 12: it more of just a deal.

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Speaker 2: And I'm Nathan Hager. Join us again tomorrow morning for

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