WEBVTT - CES Expectations, Fubo Shares Jump on Disney Deal 0:00:01.080 --> 0:00:05.320 From the heart of where innovation, money and power collide 0:00:05.600 --> 0:00:10.880 in Silicon Valley and beyond. This is Bloomberg Technology with 0:00:11.039 --> 0:00:12.480 Caroline Hyde. 0:00:12.119 --> 0:00:29.440 And Ed Ludlow live from New York. This is Blomberg Technology. 0:00:29.480 --> 0:00:29.800 Coming up. 0:00:29.880 --> 0:00:33.159 CEES kicks off in Las Vegas today with a keynote 0:00:33.200 --> 0:00:34.040 speech from Nvidia. 0:00:34.240 --> 0:00:35.720 We'll have the latest on what to expect. 0:00:35.960 --> 0:00:39.080 Plus, Disney and Fubo TV agreed to combine their online 0:00:39.200 --> 0:00:43.440 TV businesses live TV, creating the second biggest digital PATV 0:00:43.520 --> 0:00:46.800 provider and sending Fubo shares soaring and a lawsuit a 0:00:46.840 --> 0:00:50.680 ledgers TikTok's video livestreams facilitated the exploitation and. 0:00:50.680 --> 0:00:53.760 Grooming of miners. Details later this hour. 0:00:54.280 --> 0:00:57.640 First, we have some breaking news regarding the Federal Reserve. 0:00:58.080 --> 0:01:00.200 Bar Michael Barr is going to be stepping down as 0:01:00.280 --> 0:01:03.400 FED Vice Chair for Supervision, a key move that we 0:01:03.440 --> 0:01:05.400 want to bring in one Michael McKee here because, by 0:01:05.440 --> 0:01:07.400 I said, the risk of a dispute over the position 0:01:07.720 --> 0:01:10.479 could be a distraction. New administration in the White House 0:01:10.520 --> 0:01:12.160 means new change leadership in the FED. 0:01:12.240 --> 0:01:17.000 Yeah, new regulatory era in the AT four banks and 0:01:17.120 --> 0:01:21.080 other institutions. Because of course the trumpet incoming Trump administration 0:01:21.160 --> 0:01:24.640 is going to be very much less so, so Michael 0:01:24.640 --> 0:01:28.160 Barr is stepping down February twenty eighth and he will 0:01:28.680 --> 0:01:30.640 serve until a successor comes. 0:01:30.880 --> 0:01:33.520 There are other resignations we need to pay attention to. 0:01:33.640 --> 0:01:36.479 Michael Meeky, Thank you, Canadian Prime Minister trust and Trudeau 0:01:36.520 --> 0:01:37.240 speaking in Ottawa. 0:01:37.319 --> 0:01:37.920 Let's listen in. 0:01:39.600 --> 0:01:43.880 To strengthen and grow the middle class. Why we rallied 0:01:43.880 --> 0:01:48.160 to support each other through the pandemic, to advance reconciliation, 0:01:49.240 --> 0:01:53.280 to defend free trade on this continent, to stand strong 0:01:53.440 --> 0:01:57.720 with Ukraine and our democracy, and to fight climate change 0:01:57.840 --> 0:02:01.919 and get our economy ready for the future. We are 0:02:01.960 --> 0:02:08.200 at a critical moment in the world. Canadia a shaq 0:02:08.320 --> 0:02:16.280 matti mus and tomi minestra, a spire para resilience, generosity, 0:02:18.600 --> 0:02:23.519 character is sibia. On to Canadia siskim and motif a 0:02:23.639 --> 0:02:30.840 shak jou privilege, the survey, the post, the piedo, milkns 0:02:31.440 --> 0:02:41.320 chmus batsu, pusila, class man. Some mobilize on to Canadian 0:02:41.440 --> 0:02:50.560 for soutnir lison, a pandemic, fire, progress, reconcilia. They found liberation. 0:02:51.240 --> 0:03:02.200 Not in the Lucraine. The democracy h in plutic I 0:03:02.320 --> 0:03:15.040 prepari now Traversonalmond. My friends, is you all know I'm 0:03:15.080 --> 0:03:18.640 a fighter. Every bone in my body has always told 0:03:18.680 --> 0:03:23.400 me to fight because I care deeply about Canadians. I 0:03:23.560 --> 0:03:26.720 care deeply about this country, and I will always be 0:03:26.960 --> 0:03:31.079 motivated by what is in the best interest of Canadians. 0:03:32.919 --> 0:03:37.000 And the fact is, despite best efforts to work through it, 0:03:38.000 --> 0:03:43.120 Parliament has been paralyzed for months after what has been 0:03:43.280 --> 0:03:47.440 the longest session of a minority parliament in Canadian history. 0:03:48.920 --> 0:03:52.560 That's why this morning I advise the Governor General that 0:03:52.720 --> 0:03:57.400 we need a new session of Parliament. She has granted 0:03:57.440 --> 0:04:01.560 this request and the House will now be prorogued until 0:04:01.640 --> 0:04:07.240 March twenty fourth. Over the holidays, I've also had a 0:04:07.360 --> 0:04:10.720 chance to reflect and have had long talks with my 0:04:10.880 --> 0:04:14.600 family about our future. Throughout the course of my career, 0:04:15.000 --> 0:04:19.080 any success I have personally achieved has been because of 0:04:19.320 --> 0:04:24.839 their support and with their encouragement. So last night over dinner, 0:04:25.720 --> 0:04:28.080 I told my kids about the decision that I'm sharing 0:04:28.160 --> 0:04:34.480 with you today. I intend to resign as party leader 0:04:34.960 --> 0:04:39.839 as Prime Minister after the party selects its next leader 0:04:40.480 --> 0:04:46.760 through a robust nationwide competitive process. Last night I asked 0:04:46.800 --> 0:04:50.279 the President of the Liberal Party to begin that process. 0:04:51.839 --> 0:04:55.080 This country deserves a real choice in the next election, 0:04:55.560 --> 0:04:58.520 and it has become clear to me that if I'm 0:04:58.640 --> 0:05:02.520 having to fight in in all battles, I cannot be 0:05:03.120 --> 0:05:10.640 the best option in that election. Michel Settee come Vucevi starfighter. 0:05:16.480 --> 0:05:19.880 Justin Trudeau there the Prime Minister of Canada, of course, 0:05:20.000 --> 0:05:23.599 now handing in his resignation as the leader of his party. 0:05:24.040 --> 0:05:27.440 There is an official suspension of parliament now in Canada 0:05:27.839 --> 0:05:29.679 until March the twenty fourth. 0:05:30.480 --> 0:05:32.279 We will return to all of. 0:05:32.360 --> 0:05:34.720 The moves when it comes to politics in Canada. But 0:05:34.880 --> 0:05:38.039 the announcement there that Canada will perode parliament until March 0:05:38.080 --> 0:05:41.400 to twenty fourth, and indeed Trudeau's Canada Parliament will be 0:05:41.440 --> 0:05:46.119 suspended and he announces his resignation after nine years in power. 0:05:46.240 --> 0:05:49.039 He says he'll stay as Prime Minister until a new 0:05:49.520 --> 0:05:51.360 Liberal leader is chosen. 0:05:52.279 --> 0:05:55.800 His resignation announcement not the only one. This time. 0:05:55.880 --> 0:05:58.720 We returned to Michael McKee and the Federal Reserve because 0:05:58.760 --> 0:05:59.640 Michael Barrs. 0:05:59.400 --> 0:06:02.760 Stepped down as FED Vice chair for Supervision. But he's 0:06:02.880 --> 0:06:06.880 not resigning from the Federal Reserve. Just this Vice chair position. 0:06:07.120 --> 0:06:09.479 Yeah, which makes a very interesting situation for the FED 0:06:09.600 --> 0:06:12.480 because there is no opening on the FED Board of 0:06:12.560 --> 0:06:15.960 Governors until January of twenty twenty six, when Ariona Cougler's 0:06:16.080 --> 0:06:20.600 term expires, and it's basically been thought she won't be replaced. 0:06:20.720 --> 0:06:24.760 But the incoming president won't have the opportunity to pick 0:06:24.920 --> 0:06:29.640 a different new vice chair for regulation. He could only 0:06:29.760 --> 0:06:32.040 pick from those who are on the board now. The 0:06:32.120 --> 0:06:34.280 best guess is that if you were going to choose 0:06:34.320 --> 0:06:37.440 somebody from that board, it would be Mickey Bowman, because 0:06:37.520 --> 0:06:41.040 she's been the sort of community bank representative, she's been 0:06:41.080 --> 0:06:44.799 a banking official. She is a Republican, so she fits 0:06:44.880 --> 0:06:47.480 some of the characteristics that the president would want. But 0:06:47.920 --> 0:06:51.280 does Donald Trump want Mickey Bowman as vice chair or 0:06:51.400 --> 0:06:53.600 is he going to leave the position vacant for right now? 0:06:53.880 --> 0:06:56.280 And the other key thing about this is the FED 0:06:56.360 --> 0:06:59.840 says it will take no new actions for bank regulation 0:07:00.360 --> 0:07:03.800 until his successor is confirmed, and that would seem to 0:07:03.920 --> 0:07:07.360 indicate that Basil three, the endgame proposal that has been 0:07:08.880 --> 0:07:11.600 sort of the big focus on Wall Street is if 0:07:11.680 --> 0:07:13.040 not dead on life support. 0:07:13.040 --> 0:07:15.600 At this point, we'll get to some of the stock 0:07:15.680 --> 0:07:16.600 reactions on the banks. 0:07:16.640 --> 0:07:18.720 But is that going to be the big market move really, 0:07:18.760 --> 0:07:20.320 that's going to be what's digested here. 0:07:20.760 --> 0:07:24.840 Yeah, the Fed was supposed to re announce in January 0:07:24.920 --> 0:07:28.320 or February their latest BUZZL three work up, because they 0:07:28.680 --> 0:07:31.880 pulled it back to do some revisions, and now apparently 0:07:32.000 --> 0:07:33.080 that's not going to happen. 0:07:33.840 --> 0:07:35.360 We keep an eye on what's happening in the markets. 0:07:35.440 --> 0:07:38.480 Yields till about three basis points to the higher side. 0:07:38.520 --> 0:07:42.520 That more based on tariff perceptions and whether or not 0:07:42.560 --> 0:07:44.200 they're going to be pulled back or indeed put in 0:07:44.280 --> 0:07:46.720 force as Trump had discussed before. We'll get to that 0:07:46.760 --> 0:07:48.520 a little bit later, but for now you'll see two 0:07:48.600 --> 0:07:50.760 year yields on the downside, thirty eight yields have been 0:07:50.880 --> 0:07:53.120 inching higher up four basis points. And we're keeping a 0:07:53.160 --> 0:07:54.920 close eye on the bank stocks and the back of 0:07:55.080 --> 0:07:59.600 Michael Barr's resignation as the vice chair of the FED 0:08:00.000 --> 0:08:02.800 when it comes to supervision, Michael mckeey, thank him. Let's 0:08:02.800 --> 0:08:04.800 get back to the tech markets for a moment as well, 0:08:04.880 --> 0:08:07.880 because that we're at record highs on certain names Nasdaq 0:08:07.880 --> 0:08:09.840 app or another one point seven percent on the NAZAK 0:08:09.840 --> 0:08:12.920 one hundred, the big benchmark, what drives us higher. 0:08:13.000 --> 0:08:16.040 The points being pushed higher by one. 0:08:16.120 --> 0:08:18.240 In video, we are at a new record high for 0:08:18.320 --> 0:08:19.520 in video at the moment, we want to go to 0:08:19.600 --> 0:08:21.640 some other key market moves of the day. Fubo TV 0:08:21.920 --> 0:08:25.680 extraordinary move for this particular company, as we once again 0:08:25.720 --> 0:08:28.560 see the beginning of twenty twenty five kickoff to an 0:08:28.760 --> 0:08:32.559 m and a frenzy and consolidation within media. This is 0:08:32.600 --> 0:08:34.640 all about how you're going to be consuming your sports 0:08:35.160 --> 0:08:38.800 live TV online. We're getting the second biggest player when 0:08:38.800 --> 0:08:42.120 you combine Disney and Fubo to be taking on and 0:08:42.240 --> 0:08:45.959 really only second to YouTube TV. Fubo up one hundred 0:08:46.000 --> 0:08:48.120 and ninety percent. Will delve into that later in the show. 0:08:48.320 --> 0:08:50.400 Microsoft and an interesting story it came on Friday, the 0:08:50.440 --> 0:08:52.200 fact that they're going to be spending eighty billion dollars 0:08:52.240 --> 0:08:54.679 in AI data centers. Many saying that, look, this is 0:08:54.720 --> 0:08:56.800 why we've got tech rallying on the day. More broadly, 0:08:57.280 --> 0:09:00.040 more commitment to AI infrastructure. Microsoft up two percent and 0:09:00.320 --> 0:09:02.480 in Vidia in a new record high. We're up five percent, 0:09:02.760 --> 0:09:05.520 and that's because we're expecting a keynote at about six 0:09:05.679 --> 0:09:08.240 thirty pm at Pacific time, that is nine thirty pm 0:09:08.320 --> 0:09:10.480 New York time at later today from one Jensen Huang. 0:09:10.840 --> 0:09:13.760 Let's get out to Ian King for more. In of course, 0:09:13.800 --> 0:09:15.439 at CEES we're about to unfold. 0:09:15.679 --> 0:09:17.720 What do we expect from Jensen in particular. 0:09:18.400 --> 0:09:20.560 Yeah, I mean we don't know yet. There are going 0:09:20.640 --> 0:09:22.400 to be briefings and then he's obviously going to hit 0:09:22.480 --> 0:09:25.320 the stage later today. What we've seen are some leaks 0:09:25.440 --> 0:09:28.840 of a new GPU architecture that's going to becoming that's 0:09:29.559 --> 0:09:33.160 basically for the PC market. So used to be their 0:09:33.400 --> 0:09:35.600 pride and joy, but now it's kind of a minor thing. 0:09:35.920 --> 0:09:38.400 And you'll remember that we reported a long time ago 0:09:38.559 --> 0:09:41.800 now that this will be the year that Jensen and 0:09:42.040 --> 0:09:44.920 in video would directly get into the PC market, into 0:09:44.960 --> 0:09:46.239 the CPU market. 0:09:46.520 --> 0:09:49.160 And not the only one, Quillcom introducing new chips designed 0:09:49.160 --> 0:09:52.640 to power PCs as well. It's all about the AIPC unfold. 0:09:54.000 --> 0:09:56.360 Yeah, I mean, this is the big hope for both 0:09:56.440 --> 0:09:59.559 the PC makers and the guys that supply them that hey, 0:10:00.240 --> 0:10:02.280 this is something exciting, this is a new way to 0:10:02.440 --> 0:10:04.520 use your PC, and that everybody will rush out to 0:10:05.320 --> 0:10:08.800 trade in their old machine. And basically every chip maker 0:10:08.800 --> 0:10:10.839 out there is saying, hey, we've got the best solution 0:10:11.000 --> 0:10:12.800 for this particular way of doing things. 0:10:13.440 --> 0:10:17.040 In you've got to be clued into what is writing 0:10:17.080 --> 0:10:19.040 on the Tech Daily today is a brilliant piece all 0:10:19.080 --> 0:10:21.679 about the important conversations that are going on outside the 0:10:21.760 --> 0:10:24.720 main floor of Las vegas Ian King in San Francisco 0:10:24.800 --> 0:10:26.200 for us, thank you so much for the look ahead 0:10:26.240 --> 0:10:29.439 to CES and of course that keynote from Nvidia's CEO 0:10:29.600 --> 0:10:31.800 tonight and it's the talk of the town. In fact, 0:10:31.880 --> 0:10:34.280 Jim Bianco from Bianco Research had this to say about 0:10:34.280 --> 0:10:36.760 the company and it's CEO just earlier today on Bloomberg Surveillance. 0:10:37.600 --> 0:10:40.480 Well, first of all, everybody should care about Jenson Wang 0:10:40.559 --> 0:10:43.120 because he is the most important person in twenty twenty 0:10:43.160 --> 0:10:46.679 five to everybody's returns, no matter what market you are 0:10:46.920 --> 0:10:51.240 investing in right now, because Nvidia is the driver of everything. 0:10:51.880 --> 0:10:53.240 Let's get more investor analysis. 0:10:53.280 --> 0:10:55.920 Joann fini It is a partner and portfolio manager of 0:10:56.080 --> 0:10:57.280 Advis's Capital Management. 0:10:57.640 --> 0:10:59.959 All on ten to Hooks the six thirty pm Pacific time. 0:11:01.640 --> 0:11:05.240 Absolutely, Caroline, Clearly Jensen will have a lot that he 0:11:05.320 --> 0:11:09.080 can talk about and share with with his investor base. 0:11:09.840 --> 0:11:12.360 And because he has a lot of good stories to tell. 0:11:13.000 --> 0:11:14.920 The AI demand is not debating. 0:11:15.000 --> 0:11:17.480 In fact, that news from Microsoft last week shows how 0:11:17.600 --> 0:11:21.120 much more there is to be spent. And you know, 0:11:21.240 --> 0:11:25.040 Jensen's talk will likely also hit plenty of other companies 0:11:25.080 --> 0:11:27.600 that are more and more involved now in rolling out 0:11:27.679 --> 0:11:32.320 AI applications, whether it's in robotics or autos or digital 0:11:32.360 --> 0:11:33.360 twins or elsewhere. 0:11:33.920 --> 0:11:36.559 Just talk about how in video itself can own that. 0:11:36.800 --> 0:11:39.360 What's been so phenomenal is the way in which you're 0:11:39.400 --> 0:11:42.520 sort of getting virtually vertical integate gration. They can offer you, 0:11:42.640 --> 0:11:44.520 of course the hardware, but he's rightly selling you the 0:11:44.600 --> 0:11:45.760 software like a. 0:11:45.800 --> 0:11:46.520 One stop shop. 0:11:46.760 --> 0:11:49.640 How does he continue to iterate that into the era 0:11:49.840 --> 0:11:53.560 and era of well apps and of course agents. 0:11:54.520 --> 0:11:57.080 Yeah, so, you know it has been a long time coming, 0:11:57.440 --> 0:12:01.000 the development of the Nvidia specific songlfware for you know, 0:12:01.160 --> 0:12:05.640 building computational models called Kuda. You know, he's been working 0:12:05.679 --> 0:12:09.000 on that for decades and it's now fully integrated into 0:12:09.080 --> 0:12:11.680 the hardware. And that creates a really deep moat, which 0:12:11.760 --> 0:12:14.240 is why it's awfully hard for other companies to break 0:12:14.280 --> 0:12:16.560 into this space. Not that we won't see them. We're 0:12:16.600 --> 0:12:18.240 going to see AMD, We're going to see more and 0:12:18.320 --> 0:12:21.200 more in house, but it creates a really strong platform 0:12:21.280 --> 0:12:24.199 for Nvidia, and we expect tonight that he'll talk more 0:12:24.200 --> 0:12:27.200 about how he's going to roll out more data centers 0:12:27.400 --> 0:12:29.959 to run AI models for other folks. So he's not 0:12:30.040 --> 0:12:32.240 going to be content I think to stick just with 0:12:32.360 --> 0:12:34.079 the hardware and the software. I think he wants to 0:12:34.120 --> 0:12:36.880 get into services to some extent, and it's not been 0:12:37.000 --> 0:12:39.199 something that Nvidia has shied away from in the past, 0:12:39.240 --> 0:12:41.199 that is competing with its customers. 0:12:41.920 --> 0:12:44.319 What new you hoping to see when it comes to 0:12:44.840 --> 0:12:47.240 applications When it comes to robotics, you just mentioned it 0:12:47.280 --> 0:12:47.800 for example. 0:12:48.720 --> 0:12:52.000 Yeah, so you know Cees is always full of dreamware 0:12:52.440 --> 0:12:53.840 as well as reality and. 0:12:53.880 --> 0:12:55.880 So it's always fun to see what small and. 0:12:55.960 --> 0:12:59.000 Large companies roll out. But you know, robotics is clearly 0:12:59.120 --> 0:13:01.760 an area for growth that's more near term. We already 0:13:01.760 --> 0:13:04.040 see plenty of robotics, but they need to become smarter, 0:13:04.400 --> 0:13:08.120 They need to become more physically adept and graceful, and 0:13:08.200 --> 0:13:10.960 we think AI can really help in sensing the environment 0:13:11.080 --> 0:13:14.959 and responding to it. But another area that's a little 0:13:14.960 --> 0:13:17.959 bit more overlooked is digital twins. This is when you 0:13:18.040 --> 0:13:21.120 build a model to replicate something in the real physical world, 0:13:21.400 --> 0:13:23.439 and you use that model to save on costs to 0:13:23.559 --> 0:13:26.600 improve design, whether that's a product, whether it's a building, 0:13:26.760 --> 0:13:30.480 whether it's infrastructure, and we think AI can really inform 0:13:30.600 --> 0:13:33.640 and make that a whole lot more efficient and improve designs. 0:13:33.920 --> 0:13:37.000 We own a company called Bentley Systems, for example. It 0:13:37.240 --> 0:13:42.320 provides software for management and development of construction and projects 0:13:42.400 --> 0:13:44.920 in the infrastructure space. So that's an example of a 0:13:45.000 --> 0:13:48.400 company that could be a growing beneficiary of the infiltration 0:13:48.559 --> 0:13:49.839 of AI into that area. 0:13:50.160 --> 0:13:52.079 We love how you bring up individual names, and of 0:13:52.120 --> 0:13:54.160 course you do have exposure to video, but you also 0:13:54.760 --> 0:13:57.760 mentioned AMD, there is the Amazon and even. 0:13:57.600 --> 0:13:58.959 Broadcom in your portfolio. 0:13:59.400 --> 0:14:02.920 Who else wins when it comes to what has just 0:14:02.960 --> 0:14:06.520 been the n video ride, Well, you know clearly. 0:14:06.480 --> 0:14:10.400 And NAMD, you know, providing those chips. Broadcom we have 0:14:10.600 --> 0:14:13.560 owned for a very long time, and as they continue 0:14:13.600 --> 0:14:16.160 to acquire and build new capabilities, we think that's going 0:14:16.240 --> 0:14:19.120 to continue to be a really strong player in this 0:14:19.240 --> 0:14:22.080 space and has a lot more room for the valuation 0:14:22.240 --> 0:14:25.040 to improve. And beyond that, you know, look in new 0:14:25.120 --> 0:14:29.160 applications in healthcare for example, you know companies that provide 0:14:29.680 --> 0:14:34.560 new ways to monitor personal health, so software leveraged to healthcare, 0:14:34.920 --> 0:14:38.800 new medical devices from for example, Medtronic that will bring 0:14:38.880 --> 0:14:42.480 more and more smarter analytics. And then in industrials, you know, 0:14:42.720 --> 0:14:46.920 whether it's that infrastructure build or you know, software to 0:14:47.120 --> 0:14:49.000 oversee agricultural. 0:14:48.600 --> 0:14:49.720 Developments, that sort of thing. 0:14:49.880 --> 0:14:51.920 So you know, there are a lot of opportunities. We 0:14:52.000 --> 0:14:55.440 do like those big names Microsoft, Amazon, because not only 0:14:55.560 --> 0:14:58.240 does it have Amazon Web services, but online retail is 0:14:58.320 --> 0:15:01.080 still gaining share. So there's still you know, a lot 0:15:01.160 --> 0:15:04.680 of opportunities out in the tech space for continued growth 0:15:04.720 --> 0:15:05.040 this year. 0:15:05.960 --> 0:15:08.920 Advice's capital management partner Joann Feeney, brilliant to have your 0:15:09.000 --> 0:15:11.560 take on the trends and the individual companies as well. 0:15:11.880 --> 0:15:13.160 Coming up, we're gonna be talking. 0:15:13.000 --> 0:15:15.800 Trump's tariff position, the President elect denying reports of the 0:15:15.880 --> 0:15:17.080 potential pairing back of. 0:15:17.120 --> 0:15:17.920 His tariff plans. 0:15:18.360 --> 0:15:21.200 More on that next, but first we return to another 0:15:21.400 --> 0:15:25.160 key leader who today resigns his position as Liberal Party leader, 0:15:25.400 --> 0:15:28.160 Justin Trudeau. The Canadian Parliament will be suspended it on 0:15:28.240 --> 0:15:30.800 March the twenty fourth. Go to Life, Go for more. 0:15:31.320 --> 0:15:35.440 Lister Blomberg Technology, did I the conver. 0:15:36.920 --> 0:15:39.280 You spoke about the Liberal Party as an institution and 0:15:39.400 --> 0:15:42.040 the internal battles right now. But I'm wondering if you 0:15:42.200 --> 0:15:45.320 feel that another leader will have more success than you 0:15:45.440 --> 0:15:47.000 will at beating preclium. 0:15:57.240 --> 0:16:00.800 Today, the Washington Post reported the President elects Trump's are 0:16:00.840 --> 0:16:02.840 said to be looking at tariff plans that could be 0:16:02.880 --> 0:16:04.080 applied to every country, but. 0:16:04.160 --> 0:16:05.640 Only covering critical imports. 0:16:06.040 --> 0:16:08.440 Trump has denied those reports through your post on True 0:16:08.520 --> 0:16:10.880 Social saying it's quote incorrect and that he won't be 0:16:11.000 --> 0:16:13.560 pairing back his tariff policy. Let's get out to blue 0:16:13.600 --> 0:16:16.000 Bags Mike Shepherd for more and just where are we 0:16:16.080 --> 0:16:18.800 on the latest of the tariff debate. 0:16:19.880 --> 0:16:23.480 Well, it's unfolding still, Caroline. This is one of the 0:16:23.560 --> 0:16:28.200 biggest questions surrounding the incoming Trump administration's economic policy, together 0:16:28.360 --> 0:16:31.400 with his plans to cut taxes and his plans and immigration, 0:16:31.880 --> 0:16:35.440 and these are areas that would affect key industries, especially tech, 0:16:35.720 --> 0:16:38.200 and yet we don't have a clear picture from what 0:16:38.400 --> 0:16:40.680 we saw in this back and forth between the Post 0:16:40.760 --> 0:16:43.960 and then Trump today. No matter what, industries are going 0:16:44.040 --> 0:16:47.000 to be looking at what the tariffs could mean for them, 0:16:47.120 --> 0:16:49.760 and it's really two key areas. One it would be 0:16:49.880 --> 0:16:53.440 the increased costs of any inputs that they have in 0:16:53.560 --> 0:16:56.000 their production lines. And the other thing that they will 0:16:56.040 --> 0:16:59.720 be worried about is possible retaliation by US trading partners. 0:17:00.120 --> 0:17:04.200 It could mean that US products, for instance, anything made 0:17:04.240 --> 0:17:08.280 by Apple or other name brand American companies could be 0:17:08.480 --> 0:17:12.240 hit or targeted in retaliation in response to anything that 0:17:12.320 --> 0:17:15.240 Trump does. Now, it's important to note Trump still doesn't 0:17:15.280 --> 0:17:18.680 take office for another two weeks, and this will take 0:17:18.760 --> 0:17:21.639 shape over a matter of months, not just in the 0:17:22.160 --> 0:17:24.480 span of the time between now January twenty. 0:17:25.119 --> 0:17:28.120 Mike shefferd it's going to be our daily dose until 0:17:28.200 --> 0:17:29.280 that time, an onwards. 0:17:29.359 --> 0:17:30.200 We thank you so much. 0:17:30.320 --> 0:17:32.679 Meanwhile, let's talk about politics and take a little bit more. 0:17:32.680 --> 0:17:34.879 One person within Trump's sphere, you know, Musk is now 0:17:35.000 --> 0:17:37.560 under scrutiny by senior UK politicians. 0:17:37.840 --> 0:17:39.080 This after the Tesla boss. 0:17:38.880 --> 0:17:41.880 Made a series of inflammatory remarks accusing Prime Minister Kastama 0:17:42.240 --> 0:17:46.600 of complicitly involved in a decades old scandal over child 0:17:46.680 --> 0:17:50.520 sexual exportation gangs. Max Schaffkin, a blombag BusinessWeek joins US 0:17:50.560 --> 0:17:53.720 fund more and look, this is following a barrage of 0:17:53.840 --> 0:17:57.119 posts on his own social media platform x where he 0:17:57.520 --> 0:18:00.760 has been calling for prior Minister kiss Stama to be imprisoned. 0:18:00.840 --> 0:18:03.320 He's been urging with the release of Tommy Robinson, who 0:18:03.400 --> 0:18:06.600 is a far right leader, and ultimately stirring up even 0:18:06.720 --> 0:18:09.080 the surprising move away from Nigel Farage. 0:18:09.119 --> 0:18:12.040 He's the leader of the UK Reform Why is he 0:18:12.080 --> 0:18:14.399 getting so involved? Well, I think two things are going on. 0:18:14.640 --> 0:18:17.040 One and probably the most important thing is Elon Musk 0:18:17.119 --> 0:18:19.200 is stirring the pot on social media. This is somebody 0:18:19.200 --> 0:18:23.159 who likes to be a provocateur. He basically goes wherever 0:18:23.280 --> 0:18:26.200 there's heat. You know, we saw this during the twenty 0:18:26.280 --> 0:18:28.960 twenty four election, where he's sort of spreading you know, 0:18:29.160 --> 0:18:32.880 unfounded conspiracy theories, backing questionable figures. Really the same playbook 0:18:32.920 --> 0:18:35.120 we're seeing, you know in the UK. 0:18:35.720 --> 0:18:36.720 The difference is, of course that. 0:18:36.760 --> 0:18:39.120 Elon Musk lives in the United States and has sort 0:18:39.119 --> 0:18:42.480 of more explicitly engaged politically. Here we have a guy 0:18:42.560 --> 0:18:45.159 who's not really doesn't have a ton of business interests 0:18:45.400 --> 0:18:49.200 in the UK getting involved, you know, initially backing Nigel 0:18:49.200 --> 0:18:52.760 Farage's party, now coming out against Nigel Farage. It really 0:18:52.800 --> 0:18:56.560 feels like a combination of again stirring the pot, but 0:18:56.680 --> 0:19:00.520 also perhaps having a real disagreement with kerstar Or over 0:19:00.640 --> 0:19:03.400 some of these speech rights. Of course, X has had 0:19:03.600 --> 0:19:05.800 you know, some back and forth with the British government 0:19:05.960 --> 0:19:09.480 over you know, how he should regulate misinformation and that 0:19:09.560 --> 0:19:10.000 sort of thing. 0:19:10.480 --> 0:19:12.360 Kis Dama now speaking back. 0:19:12.440 --> 0:19:14.800 He had been relatively silent, but now he says there's 0:19:14.800 --> 0:19:16.479 a line that has been crossed, particularly when it came 0:19:16.520 --> 0:19:18.040 to the safety of one of his own MPs. 0:19:18.480 --> 0:19:19.359 Just Phillips all. 0:19:19.280 --> 0:19:22.000 Regarding previous roles in the Crown Prosecution Service that when 0:19:22.080 --> 0:19:25.120 he was leading, but away from the intricacies of really 0:19:25.160 --> 0:19:27.240 what's going on in the UK, how does it affect 0:19:27.680 --> 0:19:31.080 Ino must relationship with Trump going forward and the administration there, 0:19:31.119 --> 0:19:34.560 because as we reported, these UK senior figures are coming 0:19:34.600 --> 0:19:37.119 out and saying this is bad for US UK relationship. 0:19:37.359 --> 0:19:40.120 Yeah, I mean it's I do think people realize people 0:19:40.160 --> 0:19:42.000 in the UK realize that Elon Musk and Donald Trump 0:19:42.000 --> 0:19:44.280 are two different people. There may be a close relationship, 0:19:44.720 --> 0:19:46.320 but you know, of course Trump is going to make 0:19:46.359 --> 0:19:49.360 his own policy, and of course historically Trump has kind 0:19:49.400 --> 0:19:53.080 of cultivated ties with extreme figures who would sometimes come 0:19:53.119 --> 0:19:55.200 out and stir the pot and almost gives Trump a 0:19:55.320 --> 0:19:59.879 weapon perhaps in dealing with UK politicians. That said, you know, 0:20:00.040 --> 0:20:03.600 Tommy Robinson is a very extreme figure, a far right figure, 0:20:03.880 --> 0:20:06.000 and I think it's you know, the sort of back 0:20:06.040 --> 0:20:08.480 and forth with Farraj shows that it's possible that Musk 0:20:08.720 --> 0:20:10.840 may have crossed the line. Maybe he didn't quite know 0:20:11.440 --> 0:20:12.440 what he was stepping into. 0:20:13.760 --> 0:20:16.280 We'll see how this continues to unfold. Max trafckn all 0:20:16.359 --> 0:20:18.359 things elon Ink. You've got to check out the podcast 0:20:18.400 --> 0:20:18.720 as well. 0:20:18.840 --> 0:20:19.240 We thank you. 0:20:20.600 --> 0:20:23.800 Disney and streaming provider Fubo TV are nearing a deal 0:20:23.840 --> 0:20:27.560 to combine their online live TV businesses. Now we understand 0:20:27.600 --> 0:20:30.200 that Disney is going to be folding in its Hulu 0:20:30.400 --> 0:20:33.560 plus live TV business into Fubo, creating a new venture 0:20:33.600 --> 0:20:36.080 that will be owned seventy percent by Disney and the 0:20:36.160 --> 0:20:39.840 rest by Fubo. It continues to be listed on publicly 0:20:40.000 --> 0:20:43.600 traded benchmarks and Lucas Shaw is here too get into 0:20:43.680 --> 0:20:46.200 what is actually a pretty complex deal. But the key 0:20:46.280 --> 0:20:49.879 takeaway is Venue, which is the new sports offering, is 0:20:49.960 --> 0:20:51.080 going to be able to go ahead. 0:20:51.800 --> 0:20:55.920 Yeah, Bubo had sue to block the debut of Venue, 0:20:55.920 --> 0:20:59.320 which is a joint venture between Disney, Fox and Warner Brothers. Discovery. 0:21:00.040 --> 0:21:03.080 They said it was a sign of the anti competitive 0:21:03.160 --> 0:21:05.680 nature of these big companies because Venue was going to 0:21:05.800 --> 0:21:08.560 offer a bundle of live sports channels in a way 0:21:08.640 --> 0:21:12.280 that these companies wouldn't let Fubo do. The lawsuit proved 0:21:12.280 --> 0:21:14.200 to be pretty effective for Fubo, right, they won the 0:21:14.240 --> 0:21:17.040 first injunction or they want an injunction to stop it. 0:21:17.200 --> 0:21:19.720 And now they're essentially getting acquired for a bunch of money. 0:21:20.320 --> 0:21:22.680 Bunch of money that sends shares rocketing my one hundred 0:21:22.680 --> 0:21:25.360 and ninety percent the six point two million that they're 0:21:25.480 --> 0:21:26.280 likely to now offer. 0:21:26.359 --> 0:21:27.080 How big is that? 0:21:27.240 --> 0:21:29.320 What does it mean in terms of how they can 0:21:29.359 --> 0:21:31.960