WEBVTT - Trump Lauds Iran War Effort; Senate Rejects War Powers Measure

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

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

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

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<v Speaker 3>Karen.

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<v Speaker 4>The war in the Middle East is now into a

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<v Speaker 4>sixth day. Israel is carrying out new waves of attacks

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<v Speaker 4>on Tehran's military and intelligence assets, along with strikes on

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<v Speaker 4>Hesbola targets in Lebanon. President Trump says the US is

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<v Speaker 4>doing very well.

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<v Speaker 5>Somebody said, on a scale of ten, where would you're ready,

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<v Speaker 5>I said about a fifteen. And We're going to continue

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<v Speaker 5>to do what we have the greatest military in the

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<v Speaker 5>world by far.

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<v Speaker 4>President Trump spoke from the White House, so we get

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<v Speaker 4>more from Bloomberg Middle East anchor Jumana Bursecci in Dubai.

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<v Speaker 6>White House Press Sector. You, Karen, I love it. Went

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<v Speaker 6>on to say that they're moving to have complete dominance

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<v Speaker 6>of the skies, and earlier on I actually conducted an

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<v Speaker 6>interview with one of the advisors to the Israeli Prime

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<v Speaker 6>Minister and he said that from their perspective, both IS

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<v Speaker 6>and US operations have already surpassed in the first five

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<v Speaker 6>days of this war what they thought they could achieve.

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<v Speaker 6>This is his words. Obviously, that's how he's describing it.

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<v Speaker 6>The US also saying the Central Command that they've hit

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<v Speaker 6>over two thousand targets in Iran over the first five

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<v Speaker 6>days of the operations.

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<v Speaker 4>Bloomberg's Jumani Burssecci reports Iran is promising to ramp up

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<v Speaker 4>retaliatory attacks. About a dozen nations are involved with Tehran's

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<v Speaker 4>striking US bases and embassies across the Middle East. Turkey

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<v Speaker 4>came under fire as well yesterday, the first time a

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<v Speaker 4>NATO members been targeted, and the US submarine sank in

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<v Speaker 4>Iranian warship and international waters off Sri Lanka in the

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<v Speaker 4>first such attacks since World War II. Iran is vowing

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<v Speaker 4>to avenge that strike well.

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<v Speaker 2>On Capitol Hill, Nathan the Shunate has cleared the way

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<v Speaker 2>for President Trump to keep the war going. A Democratic

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<v Speaker 2>led resolution to stop for their strike so was blocked

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<v Speaker 2>by a vote of forty seven to fifty three. Republican

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<v Speaker 2>Lindsay Graham says the war is justified.

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<v Speaker 7>President Trump, after a sincere effort and to bring this

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<v Speaker 7>conflict to a peaceful conclusion, concluded that to continue to

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<v Speaker 7>allow this regime to move forward would put America at

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<v Speaker 7>unacceptable risk, and he was right.

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<v Speaker 2>But Democrat Chris Murphy says Americans are already paying a cost.

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<v Speaker 8>Oil prices up by nine percent, gasoline prices their largest

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<v Speaker 8>one day increase in twenty years, natural gas prices up

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<v Speaker 8>forty five percent. The region is in chaos. American consumers

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<v Speaker 8>are paying the price, and for what. We still don't

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<v Speaker 8>even know the reason for this war.

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<v Speaker 2>Senators Chris Murphy and Lindsey Graham spoke on the Senate

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<v Speaker 2>Flora ahead of the vote. The House plans to vote

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<v Speaker 2>in a war powers resolution today. Speaker Mike Johnson says

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<v Speaker 2>he's confident it will fail there as well. A CNN

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<v Speaker 2>pool taken the weekend the war began found fifty nine

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<v Speaker 2>percent of Americans disapprove the strikes on Iran.

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<v Speaker 4>The Karen Former Secretary of State Antony Blank says real

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<v Speaker 4>change in Iran will require a sustained military focus that

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<v Speaker 4>could wear down US weapons stockpiles and leave it vulnerable

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<v Speaker 4>to attacks from other adversaries. Lincoln was the top diplomat

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<v Speaker 4>in the Joe Biden administration. He's questioning whether this White

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<v Speaker 4>House is ready for the consequences of a drawn out war.

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<v Speaker 4>B Lincoln spoke with Bloomberg's David Gurup on the latest

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<v Speaker 4>edition of the Bloomberg Big Take podcast.

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<v Speaker 9>What I'm worried about. One of the things I'm worried about,

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<v Speaker 9>and this gets to the second and third order consequences,

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<v Speaker 9>is we so deplete our arsenal and it takes a

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<v Speaker 9>long time to rebuild it that that puts us in

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<v Speaker 9>a disadvantageous position when it comes to say a China

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<v Speaker 9>or a Russia. All of those things need to be

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<v Speaker 9>factored in. And again it's one of the reasons why

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<v Speaker 9>if you're going to undertake something like this, you've got

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<v Speaker 9>to make sure that you've you've factored all of that in.

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<v Speaker 4>And you can catch David Gurrow's full conversation with former

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<v Speaker 4>Secretary of State Blincoln on The Big Take wherever you

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<v Speaker 4>get your podcasts.

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<v Speaker 2>Well, Nathan, we are seeing oil on the rise once

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<v Speaker 2>again this morning. West Texas Intermediate is up two point

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<v Speaker 2>two percent at seventy six dollars twenty four sense of

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<v Speaker 2>Baryl Brent is up one point seven percent eighty two

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<v Speaker 2>dollars seventy six cents. Bloomberg Middle East News director Will

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<v Speaker 2>Kennedy believes President Trump is closely monitoring the energy market.

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<v Speaker 10>I do think the old price is an important calculation

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<v Speaker 10>for him, and although the price has been significant, it's

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<v Speaker 10>worth bearing in mind that it's not out of control.

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<v Speaker 10>That price is in the low eighties and not in

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<v Speaker 10>beyond where they've been in recent years. Prices went well

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<v Speaker 10>above one hundred dollars at the start of the Russia

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<v Speaker 10>Ukraine War, so it may be in Washington's calculation that

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<v Speaker 10>these oil prices are manageable.

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<v Speaker 2>Bloomberg's Will Kennedy on Iranian television this morning, a military

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<v Speaker 2>official claimed Iran has not closed the Strait of Hormuz now.

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<v Speaker 4>The war continues to have a major impact on the

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<v Speaker 4>airline industry car and the number of canceled flights to

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<v Speaker 4>Middle East tubs has now surpassed twenty three thousand and

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<v Speaker 4>thousands of passengers are stranded in the Gulf region, with

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<v Speaker 4>more than half of all scheduled flights to or from

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<v Speaker 4>the Middle East canceled. We get the latest from Bloomberg

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<v Speaker 4>Aviation and Transport reporter Danny Lee.

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<v Speaker 11>Priority has really been given to people to get out

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<v Speaker 11>of the region, and we have seen recent days the

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<v Speaker 11>lucks of Emerson and Etty had elands starting receiving some

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<v Speaker 11>flights to get people out, but clearly for now as

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<v Speaker 11>a pretty broad disruption overall.

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<v Speaker 4>It's Bloomberg's Danny Lee and the State Department says seventeen

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<v Speaker 4>five hundred Americans have safely fled the region. It's urging

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<v Speaker 4>others to register via its website, Nathan.

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<v Speaker 2>Amazon also being impacted by the war in the Middle East.

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<v Speaker 2>Your own strikes have damaged three facilities operated by Amazon

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<v Speaker 2>in the United Arab Amoris and Bahrain, and Israel and

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<v Speaker 2>the US have reportedly hit at least two data centers

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<v Speaker 2>in Tehran, one of them connected to the Islamic Revolutionary

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<v Speaker 2>Guard Corps.

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<v Speaker 4>Karen Goldman Sachs CEO David Solomon says he's surprised so

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<v Speaker 4>far by the reaction to the Iran attacks in the markets,

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<v Speaker 4>but in an interview with Bloomberg, he says he does

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<v Speaker 4>not see complacency.

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<v Speaker 12>I think there's a lot, a lot of uncertainty around

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<v Speaker 12>the direction of the conflict, how it will be resolved.

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<v Speaker 12>You know what the off ramps are, and you know,

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<v Speaker 12>I think it's fair to say when you look at markets,

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<v Speaker 12>market reactions have been relatively benign, and I certainly could

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<v Speaker 12>have seen over the last couple of days you know

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<v Speaker 12>a little bit more volatility, but I don't think people

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<v Speaker 12>are being complacent. I think that market participants are looking

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<v Speaker 12>and trying to say, you know, how is this going

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<v Speaker 12>to play out? What's the end game?

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<v Speaker 4>To catch the full interview with Goldman Sachs CEO David

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<v Speaker 4>Solomon on Bloomberg's new video experience on the Bloomberg Business

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<v Speaker 4>app Nathan Fed.

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<v Speaker 2>Governor Stephen Myron is still pushing for interest rate because

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<v Speaker 2>even with the war in Iran, and we spoke with

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<v Speaker 2>Myrain yesterday, I think.

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<v Speaker 13>It's a moment to continue acting. We have I have policy,

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<v Speaker 13>I have projections for unemployment. I have projections for labor markets,

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<v Speaker 13>so to my for inflation, so to my colleagues, and

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<v Speaker 13>I believe it's appropriate to continue acting in accordance with

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<v Speaker 13>those projections until you get evidence that you have to

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<v Speaker 13>change your projections. And thus far, the evidence from event

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<v Speaker 13>from events over the week and haven't led me to

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<v Speaker 13>change any of my forecast for the lad market for

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<v Speaker 13>inflation over the medium terms. So it's too early to

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<v Speaker 13>respond to them.

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<v Speaker 2>Thank Governor Stephen Myron says it's too soon to say

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<v Speaker 2>how the war will affect the US economy and other

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<v Speaker 2>FED officials have said the risk of higher oil prices

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<v Speaker 2>is clouding their outlook.

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<v Speaker 4>Turning to the equity markets, Karen futures have turned a

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<v Speaker 4>touch lower this morning, following yesterday's gains on Wall Street.

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<v Speaker 4>Shares of Broadcommerce still in the green, up seven percent

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<v Speaker 4>in early trading. The company expects Ai Chip sales to

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<v Speaker 4>top one hundred billion dollars next year. Broadcom also delivered

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<v Speaker 4>a better than estimated quarterly outlook and announced a stock

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<v Speaker 4>buyback plan worth as much as ten billion dollars.

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<v Speaker 2>Well in Asia, Nathan China has set as low as

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<v Speaker 2>growth target since nineteen ninety one, as policymakers finally appear

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<v Speaker 2>to acknowledge the difficulties facing the economy, including deflation, teriff fishs,

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<v Speaker 2>and the property sector. And here's Chinese Premier Lee Chiang

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<v Speaker 2>speaking through an interpreter in Beijing earlier this morning.

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<v Speaker 14>I mean targets forty women this year are US follows

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<v Speaker 14>GDP growth four point five to five percent. We striving

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<v Speaker 14>were better in practice and.

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<v Speaker 2>As hun is Premier Lee Chiang. Hanging over any projection

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<v Speaker 2>is a summit between Leader Seson Ping and President Trump,

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<v Speaker 2>which could determine the level of tariffs charged on Chinese goods.

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<v Speaker 4>And this programming note, Karen, as we've just seen this

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<v Speaker 4>past weekend markets to way clothes on Friday, but the

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<v Speaker 4>world doesn't. That's why we're bringing you a new live

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<v Speaker 4>radio and TV show, Bloomberg This Weekend, is looking beyond

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<v Speaker 4>the daily headlines to the bigger themes striving politics, business

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<v Speaker 4>and culture. Join David Gera, Christina Raffini, and Lisa Matteo

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<v Speaker 4>for smart conversations and in depth interviews that help make

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<v Speaker 4>sense of the week that's been and what comes next.

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<v Speaker 4>Get Bloomberg This Weekend live Saturdays and Sundays from seven

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<v Speaker 4>am Eastern on Bloomberg Radio, Bloomberg Television, and the Bloomberg

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<v Speaker 4>Business App.

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<v Speaker 2>Time now for a look at some of the other

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<v Speaker 2>stories making news in New York and around the world.

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<v Speaker 2>And for that we're joined by Blomberg's Michael Barr Michael,

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<v Speaker 2>Good Morning.

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<v Speaker 15>Good Morning, Karen. The House Overside Committee as voted to

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<v Speaker 15>subpoena Attorney General Pam Bondy as part of its investigation

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<v Speaker 15>into convicted sex offender Jeffrey Epstein. Commerce Secretary Howard Lutnik

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<v Speaker 15>has also agreed to answer questions about his past ties

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<v Speaker 15>to Epstein, including emails showing a visit to Epstein's private

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<v Speaker 15>island years after Lutnik says he cut off contact. Democratic

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<v Speaker 15>Congressman Stephen Lynch of Massachusetts is a senior member of

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<v Speaker 15>the committee.

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<v Speaker 16>With Pam Bondy, it's a different situation. She has withheld

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<v Speaker 16>meaningful and important documents from Congress. She scrubbed the information

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<v Speaker 16>that she gave to Congress from all references to Donald Trump.

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<v Speaker 15>Lynch says that Trump administration had six million documents, they

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<v Speaker 15>gave us three million. Minnesota Governor Tim Walls and State

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<v Speaker 15>Attorney General Keith Ellison appeared before the House Oversight Committee

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<v Speaker 15>to testify about alleged fraud in state programs. The committee

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<v Speaker 15>accused Walls and Ellison of knowing about alleged fraud for

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<v Speaker 15>years and failing to act on it. Committee chair James

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<v Speaker 15>Comer accused the leaders of ignoring warnings from more than

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<v Speaker 15>thirty whistleblowers.

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<v Speaker 17>What we've uncovered in Minnesota is not a paperwork error

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<v Speaker 17>or a few bad actors slipping through the cracks. It

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<v Speaker 17>is sustained failure of leadership.

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<v Speaker 15>Walls defended their leadership, saying the allegations are being used

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<v Speaker 15>as rationale for President Trump's deadly immigration raids in the state.

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<v Speaker 9>In Minnesota, if you do fraud public programs, if you

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<v Speaker 9>steal taxpayer money, we'll find you, We'll prosecute you, we'll

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<v Speaker 9>convict you, and we'll throw you in jail.

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<v Speaker 15>Ellison says Operation Metro Surge did nothing to address fraud

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<v Speaker 15>in our state, harmed our economy and scarred our people.

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<v Speaker 15>US and Canadian military aircraft were sent to the Skies

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<v Speaker 15>in response to an ultimately unfounded security threat on a

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<v Speaker 15>Scandinavian Airlines flight bound for Newark Airport. The plane landed safely.

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<v Speaker 15>Global News twenty four hours a day and whenever you

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<v Speaker 15>want it with Bloomberg News Now Michael Barr, and this

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<v Speaker 15>is Bloomberg Hererac. Thanks Michael.

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<v Speaker 2>A time now for our Bloomberg Sports update, and for

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<v Speaker 2>that you bring in John Stash Houurd.

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<v Speaker 3>And Karen Lou Holtzer passed away at the age of

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<v Speaker 3>eighty nine. A member of the College Football Hall of Fame,

0:11:20.120 --> 0:11:22.520
<v Speaker 3>he took over at Notre Dame of the mid nineteen eighty.

0:11:22.559 --> 0:11:24.719
<v Speaker 3>In his third season, he coached the Irish to the

0:11:24.800 --> 0:11:28.720
<v Speaker 3>national championship. The Patriots have released wide receiver Stefon Diggs

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<v Speaker 3>after just one season with them. He played well, but

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<v Speaker 3>this saves them sixteen million of the salary cap Diggs,

0:11:34.080 --> 0:11:37.000
<v Speaker 3>who comes a free agent. Ken See Chiefs have traded

0:11:37.120 --> 0:11:40.240
<v Speaker 3>cornerback Trent mcduffy to the La Rams. That Chiefs get

0:11:40.280 --> 0:11:42.880
<v Speaker 3>the Rams first round pick and three other picks. That's

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<v Speaker 3>your Bloomberg Sports Update.

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<v Speaker 2>Stay with us. More from Bloomberg day Break coming up

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<v Speaker 2>after this.

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<v Speaker 1>Coast to coast on Bloomberg Radio, nationwide on Serious Exam

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<v Speaker 1>and around the world on Bloomberg Dot and the Bloomberg

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

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<v Speaker 4>Good morning on Nathan Hager. On day six of the

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<v Speaker 4>US Israeli war with Iran, there is little sign of

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<v Speaker 4>let up on either side, and President Trump continues to

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<v Speaker 4>make the case that he was justified in going after Tehran.

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<v Speaker 5>They're attacking their neighbors. They're attacking there in some cases

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<v Speaker 5>allies or that's so long ago allies, And you know,

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<v Speaker 5>it's really a nation that was out of control.

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<v Speaker 4>It was President Trump at the White House. We're joined

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<v Speaker 4>now by Bloomberg News Middle East Breaking News editor Patrick Sikes. Patrick,

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<v Speaker 4>thanks for coming back on with us. If you could

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<v Speaker 4>get us updated on the latest that's been happening in

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<v Speaker 4>the region. Good morning morning.

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<v Speaker 18>Yeah, I think pertinent said Trump comments there, just you know,

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<v Speaker 18>since yesterday we've seen the first incidents both on Turkish soil,

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<v Speaker 18>with a ballistic projectile intercepted of Turkey yesterday and then today,

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<v Speaker 18>just a short while ago, the first incident in Azerbaijan

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<v Speaker 18>with Derne being a drone falling on Osari territory. So

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<v Speaker 18>I think, yeah, again, in just indicating even if perhaps

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<v Speaker 18>the overall volume of the volleys of missiles being fired

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<v Speaker 18>might be falling from Iran, we're still seeing the conflict

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<v Speaker 18>sprawl out in terms of geography.

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<v Speaker 4>And we also saw yesterday the first strike by an

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<v Speaker 4>US submarine on a surface vessel since World War Two

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<v Speaker 4>off India's backyard. What does that tell us about the

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<v Speaker 4>potential scope of this conflict?

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<v Speaker 18>Patrick, Yeah, absolutely, I mean I think it just shows

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<v Speaker 18>that the US is prepared to go far far away

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<v Speaker 18>from Iranian shores Iranian territory in pursuit of these objectives

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<v Speaker 18>that it's laid out. I think the maritime aspect of

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<v Speaker 18>it is also important, because Iran was saying just earlier

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<v Speaker 18>today that it will make America regret that particular attack

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<v Speaker 18>that incident, and I think that matters because of all

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<v Speaker 18>the munitions that Aaron will have around the Persian Gulf

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<v Speaker 18>and all the tensions around shipping there the moment. I

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<v Speaker 18>think it's going to give Iran an extra incentive to

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<v Speaker 18>try and target shipping, perhaps even military shipping in the region.

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<v Speaker 4>As the conflict continues. Patrick, you'd seen some headlines across

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<v Speaker 4>the Bloomberg terminal of Iran saying it had offered some

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<v Speaker 4>deal terms before the conflict began. Tell us more about

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<v Speaker 4>that and what to make of it.

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<v Speaker 18>Yeah, that paniced the market a bit because it was

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<v Speaker 18>sort of recirculated the comments. They were actually made kind

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<v Speaker 18>of overnight a few hours ago by a deputy foreign

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<v Speaker 18>minister in Iran, but it shows just how on edge

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<v Speaker 18>the market is that they were reacting. The idea was

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<v Speaker 18>that Iran was willing to give up not its nuclear program,

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<v Speaker 18>as some had reported, but the highly enriched stockpile of

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<v Speaker 18>uranium that it's built up if it was able to

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<v Speaker 18>get something attractive in exchange. I think substantively that wasn't

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<v Speaker 18>really new to us. But I think, as I said,

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<v Speaker 18>you know, the market reaction just shows how eager people

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<v Speaker 18>are for new information and the level of and to

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<v Speaker 18>the patient that's out there.

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<v Speaker 4>I imagine it resurfaces the question of the ultimate end

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<v Speaker 4>goal for the US end Israel. If that kind of

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<v Speaker 4>offer of giving up to just enriched geranium wasn't enough,

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<v Speaker 4>what could the potential end goal be for the US

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<v Speaker 4>at Israel at this point?

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<v Speaker 18>Yeah, I think part of the problem is that those goals,

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<v Speaker 18>you know, frequently though we see them being laid out,

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<v Speaker 18>they tend to vary right day to day, week to week.

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<v Speaker 18>Sometimes it's about a nuclear bomb, which of course Iran

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<v Speaker 18>says it doesn't have anyway. Sometimes it's about missiles, other

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<v Speaker 18>times it's about threats to the region. The current line

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<v Speaker 18>that you know, I think was the US saying they

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<v Speaker 18>want to remove Iran's ability to project threats is obviously

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<v Speaker 18>a little bit more ambiguous than some of the above,

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<v Speaker 18>which again I think this leaves a lot more room

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<v Speaker 18>for the conflict a spiral and in turn for Iran

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<v Speaker 18>to keep ramping up from its side.

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<v Speaker 4>In our last thirty seconds, with airline cancelations piling up,

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<v Speaker 4>how are Western and citizens getting out at this point?

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<v Speaker 18>Yeah, there's still a lot of panic and confusion, I think,

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<v Speaker 18>with some mixed guidance from some of the countries in

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<v Speaker 18>the West, but still many many people stuck in the Gulf,

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<v Speaker 18>coming through the golf or further afield stuck, and I

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<v Speaker 18>think some countries have been trying to send aid. Individual

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<v Speaker 18>companies will likely be looking at potential evacuation options, but

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<v Speaker 18>it's still all, i'd say, rather unclear for the moment.

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<v Speaker 15>Dabray