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Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Prisner.

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Speaker 1: TikTok and its Chinese parent company have closed a deal

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Speaker 1: to transfer part of TikTok's US operations to American investors.

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Speaker 1: Here is Bloomberg, Sanabel Droolers.

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Speaker 2: We've got TikTok and Buy Dance that have established that

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Speaker 2: JV to transfer parts of TikTok's US business to non

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Speaker 2: Chinese owners. And so as part of that deal, you're

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Speaker 2: going to get essentially a newly created US entity. And

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Speaker 2: we've actually already been hearing that the staff within the

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Speaker 2: US had already been starting to be split into these

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Speaker 2: teams just in the last few weeks. So essentially just

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Speaker 2: creating a bit of a firewall around what happens in

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Speaker 2: the States.

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Speaker 1: That is Bloomberg Xandabel Droolers. Now, this new US entity

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Speaker 1: will be owned by Oracle, Silver Lake MGX and existing

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Speaker 1: Bike Dance investors. President Trump says he has completed interviews

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Speaker 1: with candidates to succeed J. Powell as FED chairman. Trump

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Speaker 1: reiterated he has someone in mind and an announcement is

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Speaker 1: coming soon. Here is Trump speaking to reporters aboard Air

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Speaker 1: Force One.

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Speaker 3: What I'll be telling you soon.

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Speaker 4: Now, I have somebody that I think will be very good.

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Speaker 3: But I'm not gonna reveil dur Law Street, someone from

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Speaker 3: last team, somebody.

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Speaker 5: That's very respected, very very well known, and we'll do it.

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Speaker 2: I think it very good.

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Speaker 1: Jermy Now Treasury Secretary Scott Besson previously said Trump could

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Speaker 1: announce his pick for fed share as soon as next week.

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Speaker 1: President Trump is suing JP Morgan, Chase and it's CEO

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Speaker 1: Jamie Diamond for at least five billion dollars. Trump alleges

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Speaker 1: the lender stopped offering him and his businesses banking services

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Speaker 1: for political reasons. Now Diamond previously denied rejecting business on

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Speaker 1: ideological grounds.

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Speaker 6: We don't debank people could have political, religious affiliations.

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Speaker 3: What's nothing.

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Speaker 6: But there are a lot of things that canna be fixed,

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Speaker 6: and we should fix them. The rules and the requirements

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Speaker 6: are so onerous, and it does course people be debanked,

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Speaker 6: in my opinion, should not be debanked.

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Speaker 1: In a statement, JP Morgan said the suit has no merit.

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Speaker 1: The bank also said it closes accounts because they create

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Speaker 1: legal or regulatory risk for the company. President Trump is

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Speaker 1: demanding credit card companies cap their interest rates at ten

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Speaker 1: percent for one year. Now. Bank of America and City

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Speaker 1: Group are trying to figure out how they can do

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Speaker 1: that or come close. We are told each bank is

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Speaker 1: considering offering cards with a ten percent interest rate as

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Speaker 1: one potential solution. Here is Bloomberg's Michael McKee.

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Speaker 5: I think that general feeling is it could reduce credit

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Speaker 5: availability because it's not in the financial interest of the

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Speaker 5: banks to do that, and so it could be a

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Speaker 5: problem for the economy. I saw a note that some

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Speaker 5: of the banks are considering it, But really what it

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Speaker 5: is is who's going to get the card? Is it

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Speaker 5: the people who pay their bills off every month, in

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Speaker 5: which case it doesn't matter. But if you're a low

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Speaker 5: income person, you're not going to get ten percent.

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Speaker 1: That is Bloomberg's Michael McKee. Today, President Trump said the

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Speaker 1: US can do anything it wants in the Greenland Framework deal,

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Speaker 1: and that would include actions related to the military. Trump

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Speaker 1: said he will announce more in two weeks. Earlier today,

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Speaker 1: NATO Secretary General Mark Ruta said the framework was secured

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Speaker 1: without discussing the territory sovereignty. Ruta said that he and

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Speaker 1: Trump discussed the broader issue of security in the Arctic region.

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Speaker 3: Pasident Trump has been clear from when he was in

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Speaker 3: office forty five also when he came back into office

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Speaker 3: from forty seven. When it comes to the protection of

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Speaker 3: the Arctic with a prior to in Greenland, we have

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Speaker 3: to spend more energy, more time or focus on this

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Speaker 3: because we know the ceed ends are opening up the

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Speaker 3: Chinese and aggressions are more and more active.

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Speaker 1: That is NATO's Secretary General Mark Ruta, speaking during a

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Speaker 1: conversation with Bloomberg's editor in chief John Micklethwaite on the

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Speaker 1: sidelines of the World Economic Forum in Davos, Switzerland. Meantime,

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Speaker 1: the Prime Minister of Greenland, the ENNS. Friedrich Nielsen, called

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Speaker 1: the recent US rhetoric on Greenland unacceptable, but he still

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Speaker 1: would like a strong partnership.

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Speaker 7: We want a respectful and peaceful relationship and a strong

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Speaker 7: partnership as an ally, trusted ally through many many years.

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Speaker 7: But no doubt the rhetoric we have heard the last

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Speaker 7: year is unacceptable for US. It is talking about acquiring

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Speaker 7: Greenland and so on. That's of course unacceptable.

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Speaker 1: That is Ens friedrich Nielson, the Prime Minister of Greenland,

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Speaker 1: speaking at a news conference. Former Special Council Jack Smith

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Speaker 1: testified today before the House Judiciary Committee. This was his

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Speaker 1: first public testimony about his investigations into President Trump's actions

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Speaker 1: after the twenty twenty election, as well as the alleged

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Speaker 1: mishandling of sensitive government documents. Now the House committee is

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Speaker 1: investigating what it calls politically motivated prosecutions of President Trump. However,

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Speaker 1: Smith stood by his decisions.

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Speaker 4: President Trump was charged because the evidence established that he

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Speaker 4: wilfully broke the law, the very laws he took an

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Speaker 4: oath to a poll. Grand juries in two separate districts

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Speaker 4: reached this conclusion based on his actions as alleged in

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Speaker 4: the indictments they returned.

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Speaker 1: President Trump, by the way, has adamantly denied any wrongdoing.

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Speaker 1: And that is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug prisoner, and this is Bloomberg