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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: Brian Curtis in Hong Kong. The US military has launched

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Speaker 1: air strikes on two locations in eastern Syria link to Iran.

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Speaker 1: The Pentagon says the strikes were in retaliation for drone

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Speaker 1: and missile attacks against US bases in the region. The

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Speaker 1: US has said it will hit Iranian backed group suspected

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Speaker 1: of targeting the United States. He will do so, it says,

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Speaker 1: as strongly as possible to deter future aggression. In other news,

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Speaker 1: China's former premier Leka Chang has passed away from a

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Speaker 1: heart attack. Leka Chang spent a decade as the nation's premiere,

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Speaker 1: overseeing Chinese economy. This was reported by state broadcaster China

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Speaker 1: Central Television, and Bloomberg's John Liu comments on how this

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Speaker 1: might impact US China relations.

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Speaker 2: I don't think there will be an immediate impact in policy,

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Speaker 2: just because right now in China, it's very clear that

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Speaker 2: Shijiping is the person calling the shots.

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Speaker 3: As much perspective and background and point of view as

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Speaker 3: others can provide.

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Speaker 2: Ultimately, every decision, especially the big ones, are sting peas

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Speaker 2: to make.

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Speaker 1: Leeka Chong was sixty eight years old. US Secretary of

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Speaker 1: State Anthony Blincoln has met with Chinese Foreign Minister Wang Yi.

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Speaker 1: Wang gave a positive tone on improving US China relations. Meantime,

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Speaker 1: Treasury Secretary Jennet Yellen said that the relationship is in

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Speaker 1: a more positive place now after what she referred to

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Speaker 1: as a dangerous period in more or.

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Speaker 3: Less to over two years. Almost no senior leful contact

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Speaker 3: had taken place during the pandemic between China and the

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Speaker 3: United States, and I think that was a dangerous situation,

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Speaker 3: and especially when there are disagreements.

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Speaker 1: As part of Yellen's recent trip to China, she held

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Speaker 1: five hours of talks with Chinese Vice Premier Holli Fung

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Speaker 1: in Beijing. This is the first in depth exchange between

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Speaker 1: the nation's topic and on the policymakers as they seek

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Speaker 1: to dial back some of the strains in the relationship.

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Speaker 1: The first major legislation passed by House Republicans flies in

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Speaker 1: the face of President Biden's emphasis on energy efficiency. Bloomberg's

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Speaker 1: head Baxter has the story.

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Speaker 4: It cuts into the Inflation Reduction Act, which incentivized homeowners

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Speaker 4: to switch to more energy efficient appliances and end to

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Speaker 4: money that helps States craft more stringent building energy codes.

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Speaker 4: The effect of this which strip billions of dollars put

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Speaker 4: aside for consumer rebates. Speaker Mike Johnson in the past

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Speaker 4: has criticized the spending on climate and clean energy measures

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Speaker 4: as green energy slush funds. It's not expected to pass

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Speaker 4: the Senate or get a Biden's signature at Baxter Bloomberg Radio.

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Speaker 1: After the bill, Amazon reported third quarter revenue and profit

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Speaker 1: above expectations. The results reflect rising sales in the company's

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Speaker 1: retail unit and the benefits of Amazon's cost cutting. At

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Speaker 1: the same time, Amazon spent less on sales and marketing.

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Speaker 1: Here's Bloomberg's Punham Goil.

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Speaker 2: I think they've made a lot of cost cuts. I

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Speaker 2: think now it's more about cost optimization, so really using

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Speaker 2: the resources at hand, especially in their distribution centers, to

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Speaker 2: really get the benefits that would help them ensure better

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Speaker 2: speed and price for their shoppers. That's on the retail side.

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Speaker 2: On the AWS side, I think you'll see things up

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Speaker 2: and flow over time, with the margin fluctuating as I

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Speaker 2: said earlier. But I think the focus really on AWS is,

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Speaker 2: you know, to get that revenue to accelerate again, which

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Speaker 2: you think is a twenty twenty four story.

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Speaker 1: That's Punham Goil. The cloud computing unit AWS revenue fell

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Speaker 1: just short of projections, but on the conference call, CEO

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Speaker 1: Andy Jase said that the cloud business had stabilized and

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Speaker 1: that business was picking up early in the current quarter.

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Speaker 1: Amazon shares were up more than five percent in late trading.

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Speaker 1: That's news when you want it with Bloomberg News Now.

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Speaker 1: I'm Brian Curtis. This is Bloomberg