WEBVTT - Trump Ukraine Plan Wobbles; White House Warns Iran on Nuclear Program

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>Good morning, I'm John Tucker and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today, and.

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<v Speaker 3>Karen, let's begin with new developments in the efforts to

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<v Speaker 3>end the war in Ukraine. Russian President Putin says he's

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<v Speaker 3>going to revise his country's negotiating position and reclaiming Ukrainian

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<v Speaker 3>drones targeted his residence. According to the Kremlin, Putin told

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<v Speaker 3>President Trump of his decision at a call yesterday. The

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<v Speaker 3>President talked about it with reporters in Florida.

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<v Speaker 4>It's one thing to be offensive, because they are offensive.

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<v Speaker 4>It's another way to attack his house. It's not the

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<v Speaker 4>right time to do any of that and can't do it.

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<v Speaker 4>And I learned about it from President Bunt that was

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<v Speaker 4>very angry about it.

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<v Speaker 3>Putin said Moscow intends to work closely with the US

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<v Speaker 3>on peace efforts, but would reconsider a number of previously

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<v Speaker 3>reached agreements. The Ukrainian President, Vlaud Brinzelenski dismissed the US

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<v Speaker 3>and claims as a new lie and warned that Moscow

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<v Speaker 3>could be using it as an excuse to prepare an

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<v Speaker 3>attack on government buildings in.

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<v Speaker 2>Kiev, well John. President Trump has threatened to strike Iran

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<v Speaker 2>again if the country builds its nuclear capabilities. Speaking as

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<v Speaker 2>he met with Israeli Prime Minister Benjamin Netaniahu, President Trump

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<v Speaker 2>expressed concern that Iran is seeking to revive its nuclear program.

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<v Speaker 5>Now.

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<v Speaker 4>I hear that Iran is trying to build up again,

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<v Speaker 4>and if they are, we're going to have to knock

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<v Speaker 4>him down. We'll knock him down. We'll knock the hell

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<v Speaker 4>out of them. But hopefully that's not happening. I heard

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<v Speaker 4>Iran wants to make a deal. If they want to

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<v Speaker 4>make a deal, that's much smarterer. You know, they could

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<v Speaker 4>have made a deal the last time before we went through,

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<v Speaker 4>you know, a big attack on them.

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<v Speaker 2>And President Trump also said he would support Israel and

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<v Speaker 2>striking Iran if it continued with its ballistic missile program.

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<v Speaker 3>And President Trump says the US struck a facility inside Venezuela,

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<v Speaker 3>it would be a significant ensculation in the campaign against

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<v Speaker 3>alleged drug trafficking operations there. Trump's reference to an attack

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<v Speaker 3>within Venezuela would mark the first time the US has

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<v Speaker 3>announced a land strike in that country. The administration has

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<v Speaker 3>raised pressure on the government of Nicholas Maduro by bombing

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<v Speaker 3>boats in the region and implementing a blockade to disrupt

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<v Speaker 3>the country's oil exports.

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<v Speaker 2>John hours after President Trump downplayed at China's military stage. Day,

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<v Speaker 2>second day of large scale military drills around Taiwan this morning,

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<v Speaker 2>had fired dozens of rockets into waters near Taiwan. China's

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<v Speaker 2>latest exercise has come as President Xieshin paying ramps up

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<v Speaker 2>military and diplomatic pressure on self ruled Taiwan. It also

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<v Speaker 2>comes days after the US announced one of its biggest

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<v Speaker 2>arms packages ever for the self run democracy.

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<v Speaker 3>And let's turn to the markets, where futures right now

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<v Speaker 3>they are mixed Following gainst day's declines on Wall Street,

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<v Speaker 3>the SMP five hundred fell three tenths of a percent.

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<v Speaker 3>The NAZAC dropped half a percent. Still, it's been a

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<v Speaker 3>good one for the bulls. The SMP five hundred up

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<v Speaker 3>more than seventeen percent so far this year. Chris Campisisis

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<v Speaker 3>is a managing partner at Barnum Financial Group.

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<v Speaker 6>The reality is, if we look at how the last

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<v Speaker 6>time we had four double digit up years in a

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<v Speaker 6>row that didn't end so well, right, That ended with

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<v Speaker 6>the dot com bubble burst, and so if we're going

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<v Speaker 6>to see another double digit, high momentum, high growth kind

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<v Speaker 6>of year, we're going to need some kind of goldilocks

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<v Speaker 6>economic and stock performance in order to do that.

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<v Speaker 3>Barnham Financial Groups Chris campizzis global equities remain on track

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<v Speaker 3>for a third straight and you'll gain with msci's world

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<v Speaker 3>gauge up around twenty one percent in twenty twenty five.

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<v Speaker 2>So John, what's the outlook for a stocks in the

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<v Speaker 2>new year. Bloomberg's Tom Busby has a look in what

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<v Speaker 2>the big banks and boutique investment firms are expecting in

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<v Speaker 2>twenty twenty six.

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<v Speaker 7>Despite worries about a possible artificial intelligence bubble, the Fed's

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<v Speaker 7>next move on interest rates, and unanticipated shocks from President

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<v Speaker 7>Trump's second year in office, the consensus for the new

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<v Speaker 7>year on Wall Street is that the stock market will

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<v Speaker 7>continue to rally to new heights in twenty twenty six

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<v Speaker 7>for a fourth year in a row, making what would

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<v Speaker 7>be the longest winning streak in almost two decades. In

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<v Speaker 7>Bloomberg survey of sell side equity strategist, the average year

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<v Speaker 7>and forecast for the S and P five hundred implies

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<v Speaker 7>another nine percent gain next year. Tom busby Bloomberg Radio.

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<v Speaker 3>Thanks Tom, and we're seeing a rebound and commodities found

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<v Speaker 3>againstday's wild ride. Both gold and silver or higher. Silver

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<v Speaker 3>is suffering its biggest one day dropping more than five years,

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<v Speaker 3>falling nine percent. Vatley Tittel covers the markets for Bloomberg.

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<v Speaker 8>It was absurdly stretched on some technicals that we knew.

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<v Speaker 8>It was trading a eighty percent above its two hundred

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<v Speaker 8>day moving average, and its relative strength indicator or RSI

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<v Speaker 8>was nearly at ninety. I mean, those are things we

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<v Speaker 8>haven't seen since the late seventies when it comes to silver.

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<v Speaker 8>So yes, it was stretched, but look, maybe it's stretched

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<v Speaker 8>for good reason. The fact that on January first, China

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<v Speaker 8>is going to be putting in export restrictions, so anyone

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<v Speaker 8>hoarding silver from Hong Kong from mainland China needs government

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<v Speaker 8>permission to do so.

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<v Speaker 3>Well, despite yesterday's pull back gold and silver, they do

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<v Speaker 3>remain on track for the best annual performances since nineteen

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<v Speaker 3>seventy nine. Checking gold and silver right now, silver op

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<v Speaker 3>three point three percent. Well, gold is up just about

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<v Speaker 3>one percent.

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<v Speaker 2>Well, John, President Trump is once again turning up the

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<v Speaker 2>pressure on fetchair J Powell. He told reporters that he

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<v Speaker 2>has a favorite to succeed Powell, but he won't name

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<v Speaker 2>that person until next month. President took it a step further,

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<v Speaker 2>saying he's weighing a lawsuit against Powell.

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<v Speaker 4>We're thinking about bringing a gross incompetence what's called gross

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<v Speaker 4>incompetence lawsuitans gross in competence against Powell. And it was

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<v Speaker 4>his baby. And the guy's just incompetent. There is nothing

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<v Speaker 4>you can do about it. He's just very incompetent man.

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<v Speaker 2>President Trump also suggested Powell should resign, adding that he

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<v Speaker 2>might still fire him. Trump has long criticized Powell's handling

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<v Speaker 2>of interest rates, saying the Central Bank has not acted

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<v Speaker 2>aggressively enough to bring borrowing costs down. Pomo's current term

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<v Speaker 2>as chair runs through May twenty twenty six. Time now

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<v Speaker 2>for a look at some of the other stories making

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<v Speaker 2>news in New York and around the world. And for

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<v Speaker 2>that we're joined by Bloomberg's Michael Barr. Michael, Good morning,

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<v Speaker 2>Good morning, Karen.

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<v Speaker 9>The FAA and the NTSB continued to investigate a deadly

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<v Speaker 9>midair collision between two helicopters that happened southeast of Philadelphia

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<v Speaker 9>over the weekend. Each aircraft had just taken off from

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<v Speaker 9>the Hamilton Municipal Airport in New Jersey late Sunday morning.

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<v Speaker 9>Diane Kloof saw it happened.

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<v Speaker 8>I say myself, my god, I hope they're just flying

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<v Speaker 8>too close.

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<v Speaker 2>I hope they don't clip each other.

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<v Speaker 5>And the minute I said it to myself, the impact occurred.

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<v Speaker 9>One of the helicopters erupted in flames. People living nearby

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<v Speaker 9>raced to the crash site to help. Seventy one year

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<v Speaker 9>old Michael Greenberg was dead at the scene. The other pilot,

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<v Speaker 9>sixty five year old Kenneth Kersh, briefly survived the initial

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<v Speaker 9>impact but was later pronounced dead at the hospital. Gas

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<v Speaker 9>prices have been falling over the past few weeks. One

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<v Speaker 9>reason is because demand is slower during the holiday season.

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<v Speaker 9>Patrick Dehan with gas Buddy also says that once the

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<v Speaker 9>weather gets warmer again, prices will start to inch back up.

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<v Speaker 10>As we get into warmer weather, eventually we'll start transitioning

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<v Speaker 10>back to cleaner, more expensive blends of gasoline for the summer.

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<v Speaker 10>Not only that, but refinery maintenance, which starts in late

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<v Speaker 10>winter will reduce supply and Americans are going to have

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<v Speaker 10>that cabin fever once warmer temperature start to hit.

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<v Speaker 9>Patrick d'han with gas Buddy. New Orleans officials say nearly

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<v Speaker 9>eight hundred law enforcements will be out in the French

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<v Speaker 9>Quarter and throughout the downtown area over the rest of

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<v Speaker 9>the New Year's week. Mayor LaToya Cantrell also says National

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<v Speaker 9>Guard troops will be deployed there through Marti Gras in February.

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<v Speaker 11>We absolutely are welcoming of those added resources.

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<v Speaker 9>A terror attack killed fourteen people during last year's New

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<v Speaker 9>Year Years celebrations. President Trump said earlier this month, national

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<v Speaker 9>Guard troops will soon head to New Orleans. New York

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<v Speaker 9>City is ready for the ball drop on New Year's

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<v Speaker 9>Eve yesterday. Organizers made sure to test the confetti so

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<v Speaker 9>it can fly without issue. More than three thousand pounds

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<v Speaker 9>of biodegradable confetti will rain down at midnight Global News

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<v Speaker 9>twenty four hours a day and whenever you want it

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<v Speaker 9>with the Bloomberg News Now Michael Barr and this is Bloomberg, Karen.

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<v Speaker 2>That's a lot of confetti. Michael Barr, thank you time

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<v Speaker 2>now for our Bloomberg Scores update, and for that we

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<v Speaker 2>bring in Dan Schwartzman.

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<v Speaker 12>The Falcons overcome blowing two twenty one point leads to

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<v Speaker 12>outlast the Rams twenty seven to twenty four as a

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<v Speaker 12>Gonzas kicks a game winning fifty one yeard field goal

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<v Speaker 12>at twenty one seconds. Running back by Jean Robinson rushes

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<v Speaker 12>for one hundred and ninety five yards on twenty two carries.

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<v Speaker 12>The Nuggets suffer from major losses. Three time MVP Nicola

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<v Speaker 12>Jokic goes out just before halftime without apparent knee injury

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<v Speaker 12>in a Denver one for seven to one twenty three

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<v Speaker 12>loss at the Miami Heat. Joki's scheduled to have an

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<v Speaker 12>MRI later today. Elsewhere Nickspeak, the Pelicans one thirty to

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<v Speaker 12>one twenty five. Raptors get past the Magic one oh

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<v Speaker 12>seven to one oh six thunder win again, knocking off

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<v Speaker 12>the Hawks one forty to one twenty nine, while the

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<v Speaker 12>Cavaliers atlast the Spurs one thirteen to one oh one.

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<v Speaker 12>That's your Bloomberg Sports update.

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<v Speaker 2>Stay with us more from Bloomberg Day Break coming up after.

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<v Speaker 1>This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business Appum. This is Bloomberg Daybreak.

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<v Speaker 3>Dannis now Spive thirteen of Wall Street. Good morning, m

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<v Speaker 3>John Tucker. This is Bloomberg Daybreak where you heard the

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<v Speaker 3>top story President of Trump's campaign to hand the war

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<v Speaker 3>in Ukraine facing some new complications the runch and President

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<v Speaker 3>Vlatimir Putin says he'll revise his country's negotiating position. Let's

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<v Speaker 3>take a deeper dive into this story this morning, and

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<v Speaker 3>I'm happy to say we're joined by Tina Pornham, the

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<v Speaker 3>founder of Fordham Global Insight. Gina a pleasure. I'm glad

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<v Speaker 3>you could be with us this morning. Putin says Ukraine

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<v Speaker 3>attacked one of his homes. Ukraine denies it. President Trump

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<v Speaker 3>seems to believe Putin. Is this now the pretext for

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<v Speaker 3>RUNCHA to retreat from any forward progress?

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<v Speaker 5>Absolutely?

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<v Speaker 11>I mean there have been no other reports apart from

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<v Speaker 11>President Putin himself of this alleged ninety one drone attack

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<v Speaker 11>on his residence outside of Novgorod. And you know, we

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<v Speaker 11>have seen this movie so many times and recently, you know,

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<v Speaker 11>Putin arranges to have a phone call with President Trump

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<v Speaker 11>before he meets with Zelenski because he knows that he

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<v Speaker 11>can plant seeds in the President's mind that will end

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<v Speaker 11>up influencing the outcome. So this is the proverbial you know,

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<v Speaker 11>Lucy and Charlie Brown with the football scenario, and so

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<v Speaker 11>far the White House seems to keep.

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<v Speaker 2>Falling for it.

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<v Speaker 3>Why is that? You got a wonder with the president

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<v Speaker 3>President Trump's comments yesterday that he was very angry. Why

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<v Speaker 3>does he not believe Vladimer Zelenski?

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<v Speaker 5>Well, why does he believe Putin who has such a

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<v Speaker 5>well established track record as a former KGB operative of

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<v Speaker 5>bait and switch and manipulation.

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<v Speaker 11>I mean, I know, John, if you saw the documents

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<v Speaker 11>that the declassified documents that were released from the talks

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<v Speaker 11>between Putin and George W. Bush around NATO. But there's

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<v Speaker 11>an awful lot in the public domain and in the

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<v Speaker 11>record and in Putin's talks themselves. And yet we know

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<v Speaker 11>that President Trump really values his personal rapport. I mean,

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<v Speaker 11>sitting here in Europe as I am, it's you know,

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<v Speaker 11>it's it's not too much to say, we wonder if

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<v Speaker 11>President Trump isn't willing to, you know, sell Ukraine and

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<v Speaker 11>give Russia an option to buy Europe.

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<v Speaker 3>Trump met with net Yahoo mar Lango yesterday. You have Russia, Ukraine,

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<v Speaker 3>the headlines. We just went over threats against Iran, a

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<v Speaker 3>strike inside Venezuela, China, the lionfire exercise in near Taiwan.

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<v Speaker 3>World seems a pretty dangerous place going into twenty twenty six,

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<v Speaker 3>and Tina. For an administration that promised an America focused agenda,

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<v Speaker 3>there's certainly a lot of foreign entanglements. Can you wrap

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<v Speaker 3>this up in a nice neat bow and tell us

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<v Speaker 3>what gives here?

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<v Speaker 11>Well, if you put that against the backdrop of the

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<v Speaker 11>markets looking very optimistic about twenty twenty six, and I

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<v Speaker 11>don't disagree, it looks like a big year for market

0:12:52.880 --> 0:12:56.800
<v Speaker 11>performance and for deal making. You know, this is consistent

0:12:57.080 --> 0:13:02.199
<v Speaker 11>with the recalibration of the international and the vying for

0:13:03.320 --> 0:13:07.600
<v Speaker 11>market share if you like, geopolitical market share of China,

0:13:07.840 --> 0:13:10.520
<v Speaker 11>Russia and the United States. And there are a lot

0:13:10.559 --> 0:13:15.199
<v Speaker 11>of casualties there like Venezuela, possibly Greenland and others. So

0:13:15.840 --> 0:13:19.520
<v Speaker 11>this is all going to continue because we're in the

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<v Speaker 11>middle of this reset.

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<v Speaker 2>Wow. This is Bloomberg day Break, your morning podcast on

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