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Speaker 1: Good morning.

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Speaker 2: I'm Brian Curtiz and I'm Doug Krisner. Here are the

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Speaker 2: stories we're following today.

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Speaker 1: Well, US inflation picked up at the end of twenty

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Speaker 1: twenty three. The data reflected higher housing costs and an

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Speaker 1: unexpected increase in used vehicle prices, and the figures also

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Speaker 1: show that the FED is facing a bumpy path to

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Speaker 1: taming inflation. We heard earlier from Cleveland FED President Lorettamester.

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Speaker 3: I think March is probably too early in my estimation

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Speaker 3: for our rate decline because I think we need to

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Speaker 3: see some more evidence. I think the December CPI report

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Speaker 3: just shows there's more work to do, and that work

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Speaker 3: is going to take restrict and monetary.

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Speaker 1: Policy Loretta Memester. Richmond FED President Thomas Barkin also weighed in.

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Speaker 1: He repeated he's still looking for more evidence that inflation

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Speaker 1: is heading toward the Fed's two percent goal, and Chicago

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Speaker 1: FED President Austin Goulsby agreed, reportedly telling Reuters it's too

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Speaker 1: soon to make a decision about a rate cut in March.

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Speaker 2: Well trading began today here in the US for the

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Speaker 2: first ETFs that directly invest in bitcoin. Bloomberg data show

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Speaker 2: over four point six billion dollars worth. Of these ETFs traded,

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Speaker 2: there are eleven of them. They invest in the US

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Speaker 2: spot bitcoin market.

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Speaker 4: Now.

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Speaker 2: This comes just a day after these ETFs wont approval

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Speaker 2: from the Securities and Exchange Commission. Bloomberg's Mike mcgloone tells

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Speaker 2: us the hype may not last given the history of bitcoin.

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Speaker 5: One of the riskiest assets. It has a very high volatility,

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Speaker 5: and it went down the most in twenty twenty two

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Speaker 5: on the way down. It went up a lot in

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Speaker 5: twenty twenty three, but unlike the stock market or gold,

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Speaker 5: it's still well below it's old high.

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Speaker 2: That is Bloomberg's Mike mcgloone. By the way, at one

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Speaker 2: point today bitcoin was above forty nine thousand. At the

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Speaker 2: moment Brian forty six thousand, four hundred.

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Speaker 4: Well.

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Speaker 1: The Federal Aviation Administration has opened a formal investigation now

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Speaker 1: of Boeing following last week's accident on one of its

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Speaker 1: passenger jets. Let's get that story from Bloomberg's Ed Ludlow.

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Speaker 6: The FAA said in a post on x that this

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Speaker 6: incident should never have happened and it cannot happen again.

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Speaker 6: Later on, in that statement, it flags Boeing's manufacturing practices

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Speaker 6: needing to comply with high safety standards that they are

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Speaker 6: legally accountable to meet, and.

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Speaker 1: That is ed Ludlow. The FAA investigation is a result

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Speaker 1: of the mid air blowout of a so called door

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Speaker 1: plug on a seven thirty seven Max nine jet that

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Speaker 1: was operated by Alaska Airlines. It happened on January fifth,

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Speaker 1: and Boeing stock today was down two and a quarter percent.

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Speaker 2: The rental car company Hertz is planning to sell a

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Speaker 2: third of its electric vehicle fleet and the company will

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Speaker 2: reinvest in gas powered vehicles.

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Speaker 4: Now.

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Speaker 2: Hurt cited weak customer demand along with high repair cost

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Speaker 2: for those battery powered options. The announcement kind of a

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Speaker 2: sharp turn from what Hurts let us know back in

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Speaker 2: twenty twenty one, when it announced plans to buy one

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Speaker 2: hundred thousand vehicles from Tesla. Bloomberg's David Welch breaks down

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Speaker 2: what changed.

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Speaker 7: What's happening here is because consumers have sort of slowed

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Speaker 7: their demand free vs, which we saw early last year,

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Speaker 7: which resulted in Tesla discounting vehicles rapidly twenty five to

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Speaker 7: thirty percent. Those discounts lower the value of the cars

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Speaker 7: and Hurts his fleet, so Hurtz has tolog those depreciation costs.

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Speaker 7: They take a hit on that when they sell the

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Speaker 7: vehicles after renting them for three months, six months, however

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Speaker 7: long they have them in the fleet.

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Speaker 4: That is.

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Speaker 2: Bloomberg's David Welch now Hertz was saying today it's going

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Speaker 2: to keep a close eye on ev demand, both at

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Speaker 2: dealerships in the US along within its own operations as

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Speaker 2: a way of deciding whether or not Hurts should buy

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Speaker 2: more EVS. Stock today was down about four percent in

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Speaker 2: the regular session.

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Speaker 1: Well, we're hearing a government review of the sale of

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Speaker 1: US Steel to a Japanese company, and he could take

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Speaker 1: longer than you think. We get more here from Bloomberg's

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Speaker 1: Denise Pellegreeney.

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Speaker 8: Pittsburgh based US Steel and its proposed buyer, niepot and

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Speaker 8: Steel have both said a deal would likely close by

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Speaker 8: spring our summer. But now we're hearing US government review

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Speaker 8: of the more than fourteen billion dollar deal could take

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Speaker 8: at least until the end of this year and possibly

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Speaker 8: even longer. The sources say. Scrutiny by the Secretive Committee

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Speaker 8: on Foreign Investment in the US is still in its

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Speaker 8: early stages. The interagency panel known as SIPHIUS, is led

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Speaker 8: by the Treasury Department. It has the power to approve, block,

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Speaker 8: or amend the US steel deal on national security grounds,

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Speaker 8: or it can send it to President Biden for a decision.

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Speaker 8: Denise Pello Green and Bloomberg Radio Well.

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Speaker 2: Later today, China will report its latest inflation figures. Consumer

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Speaker 2: prices probably fell in the month of December for a

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Speaker 2: third straight month, however a little more slowly than the

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Speaker 2: decline we saw in November. We have a preview now

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Speaker 2: from Bloomberg's Juan Wong.

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Speaker 9: In Hong Kong, consensus is for CPI to drop four

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Speaker 9: tenths of a percent year on year and PPI zero

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Speaker 9: point six percent. The pace of declines is expected to ease,

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Speaker 9: but as luckish recovery means deflationary pressures will likely not

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Speaker 9: let up anytime soon. Bloomberg Economics said deflation may extend

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Speaker 9: through the first half of twenty twenty four. Look at

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Speaker 9: trade data, export growth may have picked up, but Bloomberg

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Speaker 9: Economics sees the details as more concerning. Imports are likely

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Speaker 9: to drop by a wider margin, and that adds to

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Speaker 9: the case that more policy support is needed. In Hong Kong.

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Speaker 9: Joined want Bloomberg Radio.

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Speaker 1: It's time for Global news. A military strike against Houthi

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Speaker 1: rebels in Yemen seems imminent. We get the story from

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Speaker 1: Dan Schwartzman in New York.

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Speaker 10: Dan Yeah, Brian. UK Prime Minister Rishi Sunak has authorized

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Speaker 10: military action against the Houthi rebels in Yemen as the

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Speaker 10: militants have kept up Missilan drone attacks against commercial vessels

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Speaker 10: transiting the Red Sea. Sunk's cabinet approved the decision, with

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Speaker 10: airstrikes reportedly possible as early as tonight. Both the UK

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Speaker 10: and the US have repeatedly warned the Iran backed Toothy

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Speaker 10: rebels that there there would be consequences if they kept

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Speaker 10: up attacks against commercial vessels. Now, the leader of the

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Speaker 10: militant group has had a big response against the US

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Speaker 10: and allies if they do launch military action against the

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Speaker 10: Yemeny based group. Abdul Malik al Houthi says, quote, any

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Speaker 10: American attack won't go unpunished. They've now launched twenty seven

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Speaker 10: attacks against commercial vessels transiting the Red Sea. They say

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Speaker 10: is the response to Israel's war in Gaza. Al Huthi

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Speaker 10: says the group wants direct confrontation with America, England in Israel,

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Speaker 10: depending on spokesman, Major General Patrick Rider gives details on

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Speaker 10: the latest attack.

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Speaker 11: The houth He's fired and anti ship ballistic missile from

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Speaker 11: Hoofi controlled areas in Yemen into international shipping lanes in

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Speaker 11: the Gulf of Aden. The reports indicate one commercial vessel

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Speaker 11: reported visually observing the missile impact the water.

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Speaker 10: That's depending on spokesman Major General Patrick Ryder. Donald Trump

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Speaker 10: did end up speaking during closing arguments. It is nearly

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Speaker 10: eleven week fraud trial in New York, ranting for five

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Speaker 10: minutes ze even before being granted permission by the judge,

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Speaker 10: Trump was cut off as he came up on about

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Speaker 10: six minutes when the judge told Trump's attorney to control

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Speaker 10: his client. The former president claimed the case was a

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Speaker 10: political witch hunt against him. Trump is accused of inflating

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Speaker 10: his assets to get more favorable terms on hundreds of

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Speaker 10: millions of dollars of loans. New York State Attorney General

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Speaker 10: Letitia James is arguing for Trump to have to pay

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Speaker 10: three hundred and seventy million dollars for ledged to legal profits.

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Speaker 10: James says Trump isn't above the law.

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Speaker 12: At the end of the day, the point is simple.

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Speaker 12: No matter how powerful you are, no no matter how

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Speaker 12: rich you are, that no one is above the law,

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Speaker 12: and that the law applies to all of us equally

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Speaker 12: and fairly.

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Speaker 10: That's New York Attorney General Letitia James. A polar vortex

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Speaker 10: is set to hit much of the country this weekend,

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Speaker 10: with tempatures expected to drop to as low as minus

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Speaker 10: nine degrees in Iowa City, while Kansas City will fall

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Speaker 10: to minus five degrees. The deep cold is expected to

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Speaker 10: reach as far south this Texas, with Dallas expecting temperatures

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Speaker 10: to reach fifteen degrees on Monday, with Houston bracing for

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Speaker 10: twenty four degrees on Tuesday.

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Speaker 4: Now.

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Speaker 10: The northeast, though, is going to be much warmer, New

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Speaker 10: York seeing temperatures reach US high at sixty degrees on Saturday.

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Speaker 10: Crazy weather on the country coming up this weekend, and

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Speaker 10: after twenty four years and six Super Bowl rings, Bill

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Speaker 10: Belichick is leaving the New England Patriots. As crazy as

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Speaker 10: that sounds. Global News twenty four hours a day and

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Speaker 10: whenever you want it with Bloomberg News. Now, I'm Dan Schwartzman,

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Speaker 10: and this is Bloomberg.

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Speaker 1: This is Bloomberg day Break Asia. I'm Brian Curtis along

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Speaker 1: with Paul Allen, it's eleven minutes past the hour. Let's

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Speaker 1: get to our guest, Larry Liebert, Bloomberg, editor on the

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Speaker 1: International Economics and Security Team, and we wanted to talk

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Speaker 1: a little bit more about these reported attacks that could

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Speaker 1: be launched on Houthy rebels in Yemen. So, Larry, we're

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Speaker 1: hearing that the UK approved joining the US. I don't

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Speaker 1: think the UK would be leading the charge on this, right.

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Speaker 1: This is probably something that they have approved now to

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Speaker 1: join in. We just don't know anything on about the timing.

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Speaker 1: What are you hearing well.

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Speaker 4: I think you have it right. Bloomberg's Alex Wickham in

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Speaker 4: London confirmed from a sources familiar with the matter that

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Speaker 4: the UK Prime Minister and his cabinet have authorized action

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Speaker 4: with the US against the Houthi rebels in Yemen. And

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Speaker 4: that's a real step forward in terms of the consequences

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Speaker 4: promised by the US and its allies if the Houthi

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Speaker 4: rebels kept up their attacks against vestals passing through the

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Speaker 4: Red Seat, which I have even today. Again, the US

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Speaker 4: hasn't confirmed any of this in terms of timing, and

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Speaker 4: certainly we don't have any details about what an attacks,

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Speaker 4: an air attack would involve. There's been speculation, not necessarily

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Speaker 4: sourced or informed, that they might go for a major

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Speaker 4: warehouse or some facility in Yemen, but that's still to

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Speaker 4: be seen in coming our including if the US did

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Speaker 4: firms from its side.

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Speaker 13: Yes, so we don't know anything about the timing, but

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Speaker 13: if history is any guide, what do we know about

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Speaker 13: the potential scale? You mentioned a possible tacket there and

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Speaker 13: what as it is do the US and the UK

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Speaker 13: half in the area.

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Speaker 4: Well, basically this would be an air attack, and they

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Speaker 4: have ample facilities weaponry in the region, including on the

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Speaker 4: aircraft carriers that they've aircraft carrier and battle groups they've

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Speaker 4: brought into the region since the battle began between Hamas

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Speaker 4: and Israel. The real challenge here is whether even a

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Speaker 4: single attack to send a signal would risk widening the war.

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Speaker 4: The who he's in advance it said that any US

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Speaker 4: attack would bring US or allied attack would bring firm

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Speaker 4: a firm response by them.

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Speaker 1: We had heard that President Biden would speak to the nation,

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Speaker 1: but presumably that would be after and not before the attacks.

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Speaker 1: It seems that there was some confusion there. Can you

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Speaker 1: clear that up for US?

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Speaker 4: Yeah? I don't think if we're not again, we're not

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Speaker 4: hearing anything. We want to empathize that they're discouraging speculation

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Speaker 4: on timing the type of attack other than they say

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Speaker 4: it will be consequent. As this says, I get is

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Speaker 4: that the President isn't planning to speak tonight. And I

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Speaker 4: do think that while there's any such effort in Yemen,

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Speaker 4: any attack in Yemen would risk lighting the war. I

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Speaker 4: think most analysis is that it would be somewhat limited

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Speaker 4: attack to send us a strong signal, but a signal

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Speaker 4: rather than some sort of effort to in a single gesture,

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Speaker 4: wipe out the who he's or engaged in warfare.

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Speaker 13: Yeah, the who he's that promise prisals if any attack

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Speaker 13: goes ahead, what sort of reprisals might we reasonably anticipate?

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Speaker 13: And how well resourced are the Hooties.

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Speaker 4: Well, they're well resourced with weapons that they've obtained over

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Speaker 4: time from Iran. They're well placed because they're in Yemen

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Speaker 4: with a formidable presence really at the mouth of the

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Speaker 4: Red Sea. And the question is will they try to

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Speaker 4: attack some of the US military resources in the region,

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Speaker 4: are those at sea? And I think those are all possibilities.

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Speaker 1: The Huthis are seemingly fighting for more influence under the

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Speaker 1: Iranian umbrella, But what are some of their other more

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Speaker 1: specific aims or goals.

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Speaker 4: It's an interesting question because clearly Iran is supporting them,

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Speaker 4: Iran has armed them, Iran isn't doing anything stop them.

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Speaker 4: But there is a question that's been raised by various

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Speaker 4: analysts as to whether the Huthis have their own agenda

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Speaker 4: and there are to vacate influence to be regional players,

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Speaker 4: to be players in this sort of access of allies

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Speaker 4: backed by Iran, whether they really are looking for a

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Speaker 4: bigger role in the region, maybe even a bigger one

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Speaker 4: than Iran had counted on for them.

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Speaker 13: What sort of commentary have we heard from Iran?

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Speaker 4: Well, iron has has basically has not entirely zeroed in

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Speaker 4: from what I can recall on specifics of the Hoothy

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Speaker 4: attacks and the Red Sea. But they do speak out

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Speaker 4: about the US support for Israel, and that's always been

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Speaker 4: a very powerful motivation for them, not only in international

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Speaker 4: affairs but at home politically, where Israel and the US

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Speaker 4: have become are of course they're great villains.

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Speaker 1: It's interesting, Larry, because Jutis are attacking commercial shipping in

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Speaker 1: the Red Sea, but not ships from all nations, only

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Speaker 1: from selected nations. I think our audience would probably enjoy

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Speaker 1: being enlightened a little bit about how they're making those choices.

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Speaker 4: Well, I think everybody would be, because they have said

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Speaker 4: that they are only hitting ships that are headed for

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Speaker 4: Israel have some form of Israeli ownership or some other connection.

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Speaker 4: But according to all of the shipping experts and indications

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Speaker 4: that we have, there are off based on that, and

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Speaker 4: it hasn't really been as targeted as they profess, but

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Speaker 4: certainly in a few cases they have found vessels that

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Speaker 4: either have some Israeli ownership, have bought material to Israel

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Speaker 4: in the past.

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Speaker 1: And the Hutis are not just some rebel group in Yemen.

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Speaker 1: They are firmly entrenched. I'll have to save that, Larry

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Speaker 1: for another discussion. Thanks so much for joining us here

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Speaker 1: live on the program. Larry Lieber, Bloomberg Editor on the

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Speaker 9: He