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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. This is the Bloomberg

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Speaker 1: Day BAC podcast, available every morning on Apple, Spotify or

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Speaker 1: wherever you listen. It's Friday, the twenty seventh of December

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Speaker 1: in London.

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Speaker 2: I'm Caroline Hepka.

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Speaker 1: Coming up today, Reports emerged that an Azerbaijani passenger plane

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Speaker 1: was hit by Russian air defense before crashing and killing

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Speaker 1: at least thirty eight people. Israel has hit hoo They

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Speaker 1: targets in Yemen as the Iranian backed group continues its attacks. Plus,

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Speaker 1: Korean stocks linked to the global phenomenon Squid Game have

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Speaker 1: tanked after a less than perfect debut for its new

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Speaker 1: season on Netflix. Let's start with a roundup of our

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Speaker 1: top stories. An official investigation is continuing following reports of

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Speaker 1: a plane crash that killed thirty eight people, which was

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Speaker 1: down by a Russian air defense system. It was on

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Speaker 1: route from Azerbaijan to Russia's city of Grosny when it

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Speaker 1: changed course on Christmas Day. Here is Kremlin spokesperson Dmitry Peskov.

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Speaker 3: The investigation is ongoing. Any incident should be investigated by

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Speaker 3: special aviation authorities and it would be wrong to make

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Speaker 3: hypotheses before investigators make their verdict. We should wait till

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Speaker 3: the end of the investigation.

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Speaker 1: That was Dmitry Peskov speaking there. Neither Russia nor Azerbaijan

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Speaker 1: have offered any suggestions about what may have happened to

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Speaker 1: cause the crash. Kazakhstan's Emergency Situations Ministry says that as

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Speaker 1: many as twenty nine people survived the crash and are

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Speaker 1: currently in hospital. Israel has struck multiple targets in Yemen.

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Speaker 1: It says we're controlled by Huthi's, including military infrastructure at

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Speaker 1: Sana International Airport. At least six people died and forty

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Speaker 1: were injured in the strikes, according to the Huthi Health Ministry.

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Speaker 1: The head of the World Health Organization says that he

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Speaker 1: was at the airport when it came under atta. James

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Speaker 1: Jeffrey is a former US ambassador to a number of

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Speaker 1: Middle Eastern nations.

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Speaker 4: This is a continuation of what has been a region

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Speaker 4: wide walk between Iran and its various proxies and allies.

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Speaker 4: The age group you can call them Hamas Isabela, the

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Speaker 4: hoodies against Israel are reluctant but extremely important supporter the

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Speaker 4: United States and bits and pieces of other Arab states

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Speaker 4: and Europeans, particularly against the Hoodies. The last man standing,

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Speaker 4: so to speak, right now is the Hoodies.

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Speaker 1: Former US Ambassador James Jeffrey speaking there. He now chairs

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Speaker 1: the Middle East Program at the Wilson Center. His comments

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Speaker 1: came as Israel's Prime Minister used a TV address to

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Speaker 1: warn that his country is quote only at the beginning

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Speaker 1: of its campaign against the Iran aligned who He's in Yemen.

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Speaker 1: The Bank of Japan has signaled that a rate hike

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Speaker 1: is possible next month, despite a cause decision at their

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Speaker 1: policy meeting earlier in December. According to a summary of

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Speaker 1: the meeting, board members express both pro rate hike and

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Speaker 1: weight and see views, citing factors such as wage trends,

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Speaker 1: the US economy, and yend appreciation as motivating factors. The

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Speaker 1: summary comes as BOJ watchers look for clues over the

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Speaker 1: timing of the bank's next move. Some economists are predicting

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Speaker 1: a hike in January or March, while others site political

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Speaker 1: and economic uncertainties as reasons to hold off. The UK's

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Speaker 1: populist Reform Party claims that its membership is now larger

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Speaker 1: than the Conservatives, despite other politicians crying foul. Reform says

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Speaker 1: that it now has nearly one hundred and thirty two

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Speaker 1: thousand members, according to the total on its own website.

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Speaker 1: Here is leader Nigel Farrars, reacting to the figures, is

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Speaker 1: now the book's favorite to succeed Keir Starmer as Prime Minister,

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Speaker 1: and he recently met with Elon Musk about a possible donation.

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Speaker 1: The Conservative Party leader Kemy Baideno says that Reform has

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Speaker 1: faked their membership numbers. Farage responded that he would quote

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Speaker 1: gladly invite one of the big four firms in to

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Speaker 1: audit our membership numbers as long as the Conservative Party

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Speaker 1: does the same. Apple is fighting a US proposal to

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Speaker 1: ban Google from making deals in its online search business.

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Speaker 1: The iPhone maker has waded into the legal battle over

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Speaker 1: whether Google has monopolized the market. It says that the

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Speaker 1: court has gone too far and ruled on incorrect assumptions.

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Speaker 1: Bloomberg reported that Apple has paid twenty billion dollars in

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Speaker 1: twenty twenty two under the current deal, where Google is

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Speaker 1: the default search option on Apple's web browser, and lastly,

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Speaker 1: shares in some of South Korea's biggest media companies have

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Speaker 1: fallen after to hitch show. Squid Games is second season disappointed.

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Speaker 1: Lack loss of reviews saw Marketer Artists United and the

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Speaker 1: production company Dexter Studios for more than twenty percent. Bloomberg's

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Speaker 1: James Walcock Has More.

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Speaker 5: Is the most popular show in Netflix's history. The first

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Speaker 5: season generated nine hundred million dollars in revenue, but can

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Speaker 5: its second coming live up to that reputation. Reviewers and

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Speaker 5: audience scores think not, rating it roughly ten percent lower

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Speaker 5: than the original. The market response shows what a juggernaut

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Speaker 5: the show has become for the South Korean media industry.

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Speaker 5: But the real data people are waiting to see is

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Speaker 5: the viewership numbers in London James Wallcock, Bloomberg Radio and.

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Speaker 2: Those are our top stories for you this morning. Now.

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Speaker 1: Looking at the markets in Asia, the ni K two

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Speaker 1: two five up by one point seven percent this morning.

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Speaker 1: The MSCI Asia Pacific Index also climbing for a fifth

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Speaker 1: day in the row in a row. Partly this is

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Speaker 1: led by the slight rebanded the Japanese and after some

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Speaker 1: comments from the Finance Minister Kato, the S and P

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Speaker 1: five hundred on Thursday ended flat. US stock futures this

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Speaker 1: morning are looking a little bit less positive, down by

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Speaker 1: two tens of one percent US SOX fifty futures, though

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Speaker 1: climbing up half of one percent as markets reopen after holidays.

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Speaker 1: Gold and oil prices stable despite a Russian a reportedly

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Speaker 1: a Russian attack on that Azerbaijani plane. Well, in a moment,

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Speaker 1: we'll get to that top story, and also the Israeli

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Speaker 1: hits on hoothy targets in Yemen. But before we have

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Speaker 1: those big conversations with some of our key correspondents around

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Speaker 1: the world, another story caught my eyes related to the UK.

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Speaker 2: It was a really great read.

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Speaker 1: John Studzinski, who's a CBE and American British philanthropist and

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Speaker 1: he's founder and chairman of Genesis Foundation, and he also

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Speaker 1: happens to be the vice chairman of PIMCO, writing on

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Speaker 1: Bloomberg Today about how this is the season of goodwill

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Speaker 1: and he has twelve action points for transforming how charitable

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Speaker 1: giving operates in the UK. Starts by saying that charity

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Speaker 1: is part of the UK's cultural landscape, but that there

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Speaker 1: needs to be much more institutional government support for giving.

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Speaker 1: I thought it was a really nice piece. He has

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Speaker 1: suggested some quite interesting measures. A permanent philanthropy policy unit

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Speaker 1: in government also a government backed matching fund for philanthropy

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Speaker 1: giving and incentives for corporate matching. I think this is

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Speaker 1: a point that's really interesting. Matching of any funds, but

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Speaker 1: that an individual gives with funds from a big philanthropist

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Speaker 1: or government is actually still.

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Speaker 2: Relatively new here in the UK.

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Speaker 1: It's very commonly used in the US, but it's less

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Speaker 1: well known in the UK. So I thought it was

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Speaker 1: a really good piece from John Sedinsky this morning, A

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Speaker 1: roadmap for philanthropy in the UK in twenty twenty five.

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Speaker 1: Have a read of it if you have time this morning. Now,

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Speaker 1: the as Aijan airline plane crash crashing Kazakhstan with sixty

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Speaker 1: nine people on board. It was reportedly hit by Russian

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Speaker 1: air defense systems, according to the news website caliber Kremlin

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Speaker 1: spokesperson that you heard earlier dmet you Peskov, declining to

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Speaker 1: comment on the report, and there are of course no

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Speaker 1: official explanations for the crash, either from Russia or Azerbaijan.

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Speaker 1: To only now for more on this has been a

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Speaker 1: big senior reporter Henry Mayor, Henry good morning in terms

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Speaker 1: of what happened to the EMBRA plane, What do we know?

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Speaker 2: What are we piecing together.

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Speaker 6: As you said that there hasn't been any official explanation

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Speaker 6: of why the plane crashed. However, you know a lot

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Speaker 6: of information has been coming out unofficially based on Azerbaijani sources.

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Speaker 6: So both the media report that you mentioned just now,

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Speaker 6: which is published by a news agency linked to the

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Speaker 6: Azerbaijani government, and other media have also received some information

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Speaker 6: from Azerbaijani sources. What the picture shows is that the

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Speaker 6: plane came under attack by mistake. I mean, no one

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Speaker 6: is suggesting that this was done deliberately from a Russian

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Speaker 6: anti air defense and this happened at a time when

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Speaker 6: it was on the approach to Grosny, the capital of Chechnya,

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Speaker 6: that southern Russian region where there had been a lot

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Speaker 6: of Ukrainian drone activity. So it was hit apparently according

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Speaker 6: to one report by a Pancer missile. At the same time,

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Speaker 6: the Russians were jamming electronics, so it was the plane

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Speaker 6: didn't have any ability to navigate. What happened then is

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Speaker 6: that they requested the plane requested permission for an emergency

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Speaker 6: landing in Russia that was refused. They were not allowed

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Speaker 6: to land in either Grosny or Mahachkala, which is another

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Speaker 6: airport not so far away, and the instructions were given

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Speaker 6: them to cross over the Caspian Sea towards Kazakhstan, which

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Speaker 6: is where they attempted to land in Aktau. So yeah,

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Speaker 6: that's what looks like what happened, and.

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Speaker 1: The crash killed thirty eight people according to the Kazakh authorities.

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Speaker 1: What kind of investigation will there be? What might happen

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Speaker 1: going forwards?

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Speaker 6: Well, I mean, as is traditional in these cases. You know,

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Speaker 6: there were three county three countries involved, Russia, Zebaijan, and Kazakhstan,

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Speaker 6: so all those three countries will be conducting a joint investigation.

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Speaker 6: The manufacturer of the plane, Embreyo Brazilian, will also be involved.

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Speaker 6: You know, clearly is the highly sensitive issue. You know,

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Speaker 6: the last time something similar happened, obviously on a much

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Speaker 6: bigger scale, was in twenty fourteen when the Malaysian Airlines

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Speaker 6: plane was shot down mistakenly over Ukraine by Russian backed rebels,

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Speaker 6: and you know that killed nearly three hundred people. Of

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Speaker 6: course the casualties aren't as severe in this case, but

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Speaker 6: nonetheless a highly embarrassing incident, and you know it's going

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Speaker 6: to be obviously somehow as a Bigina's killing and wants

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Speaker 6: some kind of recognition of what's happened and compensation of

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Speaker 6: course for the passengers who lost their lives.

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Speaker 1: Yeah, okay, so that's on the plane. Meanwhile, Russia has

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Speaker 1: rejected this call from President elect Trump for an immediate

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Speaker 1: CEASPA in Ukraine, and this is related.

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Speaker 2: Obviously within the region.

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Speaker 1: Will there be a negotiated piece is three years of

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Speaker 1: this Russian war in Ukraine. What do we make of

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Speaker 1: this rejection by Russia? Right?

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Speaker 6: I mean this is expected in the sense that the

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Speaker 6: way Russia looks at it is if they agree to

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Speaker 6: assist far, you know, they no longer have any cards

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Speaker 6: to play. They're actually making progress, albeit you know, very

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Speaker 6: slowly and with very high casualties up to a thousand

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Speaker 6: killed or wounded every day on the Russian side. They

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Speaker 6: are willing to enter into talks, but they have extremely

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Speaker 6: you know, high demands. So you know, Trump has moved

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Speaker 6: in their direction, as has President Zelenski by more or

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Speaker 6: less conceding that Russia will keep the territory which it's occupied.

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Speaker 6: It will not, of course, you know, no one will

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Speaker 6: recognize Russian sovereignty over that territory. But they have a

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Speaker 6: factor control of almost twenty percent of Ukraine. Ukraine is

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Speaker 6: not in a position to recover that, so they would

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Speaker 6: be allowed to keep it. But Russia wants more. It's

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Speaker 6: pushing for two main things. One is a legally binding

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Speaker 6: commitment on the part of Ukraine to maintain a neutral status,

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Speaker 6: in other words, not to go into NATO. And the

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Speaker 6: second thing Russia wants is fair very strict limits on

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Speaker 6: the Ukrainian military, the size of its armed forces.

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Speaker 1: Yeah, and so those are the issues at stake. Henry,

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Speaker 1: thank you so much for being with me this morning.

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Speaker 1: BlueBag senior reporter Henry Mayer. Then on the situation with Russia, Well,

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Speaker 1: let's turn from that to the Middle East. Israel has

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Speaker 1: hit multiple hoothy targets in Yemen, the last of the

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Speaker 1: Iran backed groups that still fully engaged in a regional

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Speaker 1: war there. Targets hit on Thursday include military infrastructure and

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Speaker 1: the Sena International Airport, according to the Israel Defense Forces.

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Speaker 1: Do you wint to me now to discuss is Blueba's

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Speaker 1: Paul Wallace, who leads our coverage in the Middle East.

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Speaker 1: Good morning, Paul, Israel's called what the houthis are doing

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Speaker 1: escalation management, just explain what that means exactly.

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Speaker 7: Essentially, where a lot of analysts and some members of

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Speaker 7: Israeli government and military establishment think is that the whu

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Speaker 7: Thi's are upping their attacks against Israel. They're joining missile

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Speaker 7: strikes all the way from them in about two thousand

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Speaker 7: kilometers from from Israel, but they're not necessarily trying to

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Speaker 7: inflict fatalities on the country, And a lot of the

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Speaker 7: strikes are now coming at night, and Israel thinks this

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Speaker 7: is a way to sort of cause a bit of

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Speaker 7: havoc but minimize casualties and fatalities because they're less people

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Speaker 7: out and about. So that's the thinking, but it is

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Speaker 7: very hard to tell with the hoo Thies. They don't

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Speaker 7: specify whether they're trying to inflict huge numbers of deaths

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Speaker 7: in Israel. They're just saying that they will continue attacking

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Speaker 7: the country until there's a ceasefire. In Gaza.

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Speaker 1: Yeah, and the head of the World Health Organization and

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Speaker 1: his UN delegation say that they were at the Sina

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Speaker 1: airport and have described what happens at the time of

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Speaker 1: the strike.

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Speaker 7: Yes, And I think yesterday's incident just underscores how this

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Speaker 7: is becoming a bigger problem for Israel and it's having

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Speaker 7: it thinks it needs to step up its attacks on

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Speaker 7: The Houthis are Yemen based Islamist group. They control Sunna

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Speaker 7: and many other parts of Yemen. They, as you said,

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Speaker 7: kind of the last ones standing among Iran's main proxy militias.

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Speaker 7: Since October the seventh last year and the start of

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Speaker 7: the war in Guazi, you could in some way say

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Speaker 7: that the Huthis among the Uranian proxies, have come out

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Speaker 7: of this the best. They've really raised their profile. They've

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Speaker 7: effectively shut the southern red seed to Western shipping firms

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Speaker 7: with their maritime attacks, and they're causing huge headaches for Israel.

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Speaker 7: They haven't they have killed one person, but their strikes

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Speaker 7: otherwise haven't caused many casualties and their lung fatalities. But

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Speaker 7: it's very, very disruptive for Israel, and Israel just doesn't

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Speaker 7: really seem to know how to strike them in a

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Speaker 7: way that really degrades their caper abilities. You know, Israel

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Speaker 7: has way less intelligence from the hoofies than it did

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Speaker 7: with Hezboler, for example, have been massively weakened in recent months,

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Speaker 7: and you know, even beyond Israel, the UK and the

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Speaker 7: US have been striking the hoothies fairly regularly. These strikes

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Speaker 7: are not stopping their tacks on Israel or on ships

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Speaker 7: in the Red Sea.

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