Civilian Deaths in Focus in Gaza War; President Biden Invites Zelenskiy to DC

Good morning. 0:00:03.080 --> 0:00:05.920 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:05.960 --> 0:00:07.440 stories we're following today. 0:00:08.000 --> 0:00:11.160 We begin with the fighting between Israel and Hamas. Israel 0:00:11.280 --> 0:00:13.920 is trying to maintain international support for its aim to 0:00:13.960 --> 0:00:17.799 destroy the Palestinian militant group, but global leaders continue to 0:00:17.840 --> 0:00:22.200 express concern about civilian lives. Israeli Prime Minister Benjamin Netanyah, 0:00:22.200 --> 0:00:25.360 who had a fifty minute call yesterday with Russian President 0:00:25.480 --> 0:00:29.920 Vladimir Putin, He criticized Israel for the humanitarian cost in Gaza, 0:00:30.160 --> 0:00:34.080 while Netanyahu went after Russia over its cooperation with Iran. 0:00:34.640 --> 0:00:37.640 Secretary of State Anthony Blincoln says he is also urging 0:00:37.680 --> 0:00:40.520 Israel to do more to protect Palestinian civilians. 0:00:40.960 --> 0:00:43.559 There's a gap between the intent and the results, and 0:00:43.720 --> 0:00:45.199 that's the gap that we're trying to make sure it 0:00:45.240 --> 0:00:48.360 is closed. Look, this could be over tomorrow. This could 0:00:48.400 --> 0:00:51.040 be over tomorrow if a moscot out of the way 0:00:51.159 --> 0:00:53.199 of civilians instead of hiding behind them. 0:00:53.200 --> 0:00:55.880 Secretary of State Anthony blinkn spoke on ABC's This Week 0:00:55.960 --> 0:00:59.040 Heard Sundays on Bloomberg Radio. The Hamas run Health Ministry 0:00:59.080 --> 0:01:02.440 says nearly eighteen one thousand Palestinians have been killed in Gaza. 0:01:02.520 --> 0:01:05.759 It does not differentiate between civilian and combatant deaths. 0:01:06.240 --> 0:01:09.240 Well back at home, Nathan, President Biden's facing a waning 0:01:09.280 --> 0:01:12.679 support for his stance on Israel from within his own party. 0:01:12.959 --> 0:01:15.800 A new poll from CBS News and you gov shows 0:01:16.080 --> 0:01:18.760 thirty eight percent of Democrats think the President has shown 0:01:18.920 --> 0:01:22.080 too much support for Israel's war with Hamas. That's a 0:01:22.200 --> 0:01:25.880 from twenty eight percent in October. Progressive Senator Bernie Sanders 0:01:25.880 --> 0:01:28.479 says the White House faces a tough balancing act. 0:01:28.720 --> 0:01:31.360 What the President is trying to do is trying to 0:01:31.400 --> 0:01:34.800 make clear to NEThing Yahoo and his right wing extremely 0:01:34.920 --> 0:01:38.360 extreme with government is yet, you can go to war 0:01:39.040 --> 0:01:42.560 against Kamak, but you cannot go to war against the 0:01:42.640 --> 0:01:48.160 Palestinian people and cause the horrific damage to human life 0:01:48.200 --> 0:01:49.520 that we are seeing right now. 0:01:49.880 --> 0:01:52.360 Senator Bernie Sanders made the comments on Face the Nation 0:01:52.480 --> 0:01:55.520 from CBS, which you can hear every Sunday on Bloomberg 0:01:55.600 --> 0:01:56.160 Radio I. 0:01:56.200 --> 0:01:59.600 Meanwhile, Karen Top two universities remain under intense scrutiny for 0:01:59.640 --> 0:02:03.880 their sponsors to anti Semitism on their campuses. University of 0:02:03.880 --> 0:02:08.320 Pennsylvania President Liz McGill announced her resignation on Saturday, after 0:02:08.320 --> 0:02:11.160 her testimony last week to Congress, which she and the 0:02:11.160 --> 0:02:14.920 presidents of Harvard and MIT struggled to say directly that 0:02:15.040 --> 0:02:18.720 calling for the genocide of Jews violates school harassment policies. 0:02:19.000 --> 0:02:22.079 McGill will remain at Penn's Law school this tenured faculty. 0:02:22.320 --> 0:02:26.440 Harvard's president has apologized for her testimony, while MIT says it. 0:02:26.360 --> 0:02:29.040 Is currently standing by its president well Nathan. 0:02:29.080 --> 0:02:32.360 Turning to the world's other major conflict, in Ukraine, President 0:02:32.440 --> 0:02:36.120 Vladimir Zelenski will visit Washington tomorrow. He'll meet with President 0:02:36.160 --> 0:02:39.120 Biden and congressional leaders to push for continued support for 0:02:39.160 --> 0:02:42.240 his country's fight against Russia. But on Capitol Hill there 0:02:42.280 --> 0:02:44.560 remains a big gap and talks over funding for both 0:02:44.680 --> 0:02:47.680 Ukraine and Israel, and Bloomberg's at Baxter joins us with 0:02:47.760 --> 0:02:48.560 those details. 0:02:49.000 --> 0:02:51.440 The sticking point has been and still is aid for 0:02:51.560 --> 0:02:55.520 closing the US southern border. Lead Democrat negotiator Chris Murphy 0:02:55.520 --> 0:02:58.840 on NBC has heard on Bloomberg says dangerous. 0:02:58.440 --> 0:03:03.000 Vladimir Putin is right now in Republicans insistence that we 0:03:03.040 --> 0:03:05.680 get a deal on immigration reform and if we don't, 0:03:06.120 --> 0:03:08.720 then they are going to allow Vladimir Putin to march 0:03:08.800 --> 0:03:11.320 into Ukraine and perhaps into Europe. I think this is 0:03:11.480 --> 0:03:13.560 one of the most dangerous moments that I've ever faced 0:03:13.560 --> 0:03:14.640 in American politics. 0:03:14.720 --> 0:03:17.320 Murphy says, they are still in the room trying, but 0:03:17.520 --> 0:03:20.560 it is difficult. Meanwhile, the White House says it has 0:03:20.600 --> 0:03:23.760 found a way to send some tank supplies to Israel. 0:03:24.360 --> 0:03:26.799 Ed Baxter Bloomberg Radio, Okay and thanks. 0:03:26.800 --> 0:03:29.560 We're also following politics in New York City, where former 0:03:29.600 --> 0:03:32.280 President Donald Trump says he will not testify in his 0:03:32.360 --> 0:03:33.880 civil fraud trial today. 0:03:34.120 --> 0:03:35.680 This is a reversal for Trump. 0:03:35.720 --> 0:03:38.200 Heed earlier said he would testify a second time in 0:03:38.200 --> 0:03:41.480 the case that accuses the Trump organization of inflating asset 0:03:41.560 --> 0:03:43.160 values to get better loan terms. 0:03:43.520 --> 0:03:46.000 Well, Nathan to markets now, and a big week for 0:03:46.040 --> 0:03:49.400 the economy. We get the November Consumer Price Index tomorrow. 0:03:49.520 --> 0:03:52.280 Producer Price Index comes out on Wednesday, and it comes 0:03:52.320 --> 0:03:54.920 as the final FED meeting of the year gets under way. 0:03:54.960 --> 0:03:57.600 Well here from veed cher Jerown Powell on Wednesday as well, 0:03:57.800 --> 0:04:00.600 and former Treasury Secretary Larry Summers. It could be a 0:04:00.600 --> 0:04:03.240 while before Powell signals he's cutting rates. 0:04:03.640 --> 0:04:08.240 The moment they turn or announce they're going to turn, 0:04:08.600 --> 0:04:13.400 is going to be a seismic moment, and for that reason, 0:04:14.000 --> 0:04:18.760 they probably need to be very deliberative and careful about 0:04:18.839 --> 0:04:23.960 getting to that point and waiting until they see some 0:04:24.360 --> 0:04:32.120 overwhelming evidence of inflation being locked in low or see 0:04:32.160 --> 0:04:36.159 some real evidence of the economy turning over. 0:04:36.560 --> 0:04:39.920 Former Treasury Secretary Larry Summers is speaking on Bloomberg's Wall 0:04:40.000 --> 0:04:42.320 Street Week, which you can hear every Friday evening on 0:04:42.360 --> 0:04:44.040 Bloomberg Radio and television. 0:04:44.279 --> 0:04:47.240 In corporate news, Macy says it has received a five 0:04:47.279 --> 0:04:50.400 point eight billion dollar buyout offer from Arc House Management 0:04:50.480 --> 0:04:53.320 and Brigade Capital Management. It's about the retailer can execute 0:04:53.320 --> 0:04:56.240 it's turnaround better as a private firm. Source to say 0:04:56.279 --> 0:04:59.279 investors offered twenty one dollars a share for the department 0:04:59.320 --> 0:05:03.080 store giant. These shares have fallen sixteen percent this year. 0:05:03.440 --> 0:05:06.920 We also have economic news in Japan. Nathan Bloomberg News 0:05:07.000 --> 0:05:09.200 is reporting the Bank of japan' sees little need to 0:05:09.360 --> 0:05:12.800 end its monetary policy of negative interest rates. Sources the 0:05:12.920 --> 0:05:15.599 officials have yet to see enough evidence of wage growth 0:05:15.640 --> 0:05:19.719 to support sustainable inflation. It contradicts the market's recent view 0:05:19.760 --> 0:05:23.000 that the BOJ could scrap negative rates this month, and. 0:05:23.120 --> 0:05:26.720 In sports news, sources say a Fenway Sports Group consortium 0:05:26.839 --> 0:05:29.440 was chosen to enter into final negotiations to be a 0:05:29.480 --> 0:05:31.520 co investor in the entity that's being formed by the 0:05:31.520 --> 0:05:36.159 PGA Tour and Saudi Arabia's public investment fund. PGA Tour 0:05:36.240 --> 0:05:39.880 Policy Board unanimously decided to work with Strategic Sports Group, 0:05:40.200 --> 0:05:42.960 which includes New York Mets owner Steve Cohen's family office 0:05:42.960 --> 0:05:46.520 and billionaire Mark Lazry. Over the weekend, Saudi Arabia signed 0:05:46.560 --> 0:05:49.160 one of the world's top golfers, John Rahm. 0:05:48.920 --> 0:05:50.880 To its Live Golf League. 0:05:51.200 --> 0:05:52.920 Now, let's get a check out what else is happening 0:05:52.920 --> 0:05:55.680 in the world. For that, we turned to Bloomberg's Amy Morris. 0:05:55.720 --> 0:05:57.120 Good morning, Amy, Good. 0:05:56.880 --> 0:05:58.679 Morning, Nathan. Restrictions are in place. 0:05:58.720 --> 0:06:01.760 More precautions are being taken because of the stormy weather 0:06:01.839 --> 0:06:05.120 moving through the Northeast region. Empty tractor trailers and tandem 0:06:05.120 --> 0:06:07.960 trucks on MTA bridges and tunnels are scheduled to be 0:06:07.960 --> 0:06:10.880 banned on MPTA bridges and tunnels until six this morning. 0:06:11.160 --> 0:06:13.960 Governor Hochel is warning residents to stay alert, saying that 0:06:14.000 --> 0:06:16.839 in some areas. The rain is changing to wet heavy 0:06:16.880 --> 0:06:19.680 snow now. That stormy weather also moved through the southern 0:06:19.760 --> 0:06:24.520 United States over the weekend, creating powerful tornadoes and causing 0:06:24.600 --> 0:06:27.920 a lot of damage. Tennessee Governor Bilde says charities are 0:06:27.960 --> 0:06:31.200 already stepping in and he is asking the federal government 0:06:31.240 --> 0:06:31.600 for help. 0:06:31.800 --> 0:06:36.680 We also, of course, have begun the formal process of 0:06:36.920 --> 0:06:40.719 emergency declaration and of pursuing. 0:06:42.440 --> 0:06:44.960 Relief through that federal government. 0:06:45.120 --> 0:06:47.480 Six people died at least three dozen were hurt in 0:06:47.520 --> 0:06:51.279 those tornadoes that touch down in Tennessee. In a new 0:06:51.320 --> 0:06:55.320 court filing, Texas Attorney General Ken Paxton says a mother 0:06:55.440 --> 0:06:58.160 of two should be forced to carry her baby to term, 0:06:58.440 --> 0:07:02.479 even after doctors say there are severe risks involved. Paxton 0:07:02.560 --> 0:07:06.080 won a temporary restraining order against Kate Cox, stopping her 0:07:06.120 --> 0:07:09.239 from carrying out her abortion after doctors set her twenty 0:07:09.240 --> 0:07:12.760 week fetus has a severe abnormality and no chance of survival. 0:07:13.080 --> 0:07:16.520 Jonathan Stone is a special counsel for the Texas Attorney General, 0:07:16.640 --> 0:07:17.320 linus have not. 0:07:17.320 --> 0:07:19.880 Shown that they will suffer an im media interrreparable injury. 0:07:19.960 --> 0:07:22.480 Both sides of the debate rallied this weekend outside the 0:07:22.480 --> 0:07:27.080 Texas Supreme Court protester Karen Bergman expressed her main concern. 0:07:26.800 --> 0:07:31.760 Remade control of reproduction always tortures women, and we can't 0:07:31.840 --> 0:07:32.040 have it. 0:07:32.120 --> 0:07:35.120 They're hoping the State Supreme Court issues its final ruling soon. 0:07:35.640 --> 0:07:38.800 As the Israel Hamas war drags on, protesters around the 0:07:38.840 --> 0:07:41.600 world continue to call for a permanent cease fire. In 0:07:41.640 --> 0:07:45.280 New York City, pro Palestinian protesters stormed the Brooklyn Bridge 0:07:45.320 --> 0:07:49.640 Saturday night, temporarily shutting the Manhattan bound side down all 0:07:49.680 --> 0:07:53.400 part of the flood of Brooklyn. For Palestine. Protest demonstrator 0:07:53.440 --> 0:07:57.400 Amal Colleen, the point is everybody, any mother, any mother 0:07:57.480 --> 0:07:59.800 in this world, will ask season to cease fire. 0:08:00.080 --> 0:08:02.360 Coast kids, babies, babies are killed. 0:08:02.560 --> 0:08:05.840 The UN Secretary General warn of a historic and catastrophic 0:08:06.120 --> 0:08:10.760 humanitarian crisis in Gaza without a ceasefire. Global News twenty 0:08:10.800 --> 0:08:12.520 four hours a day and whenever you want it with 0:08:12.520 --> 0:08:15.960 Bloomberg News. Now, I'm maybe Morrison, This is Bloomberg. 0:08:15.600 --> 0:08:17.080 Nathan, all right, Amy, thank you. 0:08:16.960 --> 0:08:19.240 You know you can get much more of Bloomberg News 0:08:19.280 --> 0:08:22.320 right from your dashboard if you download the new version 0:08:22.560 --> 0:08:26.960 of the Bloomberg Business app, because it's now equipped with 0:08:27.600 --> 0:08:31.960 Apple CarPlay and Android Auto, you get access to every 0:08:32.160 --> 0:08:35.440 Bloomberg News podcast, including headlines of the click of a button. 0:08:35.440 --> 0:08:39.079 With Bloomberg News Now live audio feeds from Bloomberg Radio, 0:08:39.559 --> 0:08:43.720 print stories in audio form from Bloomberg News. All you 0:08:43.720 --> 0:08:45.920 have to do is head over to the Apple App 0:08:45.920 --> 0:08:50.000 Store or Google Play. Get the Bloomberg Business App updated, 0:08:50.200 --> 0:08:53.000 connect your phone to your car and get started. The 0:08:53.040 --> 0:08:57.040 new Bloomberg Business App is presented by our sponsor, Interactive Brokers. 0:09:01.760 --> 0:09:03.800 Time now for the Bloomberg Sports Update, brought to you 0:09:03.840 --> 0:09:04.760 by Tri State Out. 0:09:04.760 --> 0:09:06.479 Are you good morning, John Stetshow. 0:09:06.200 --> 0:09:06.920 Good morning Nathan. 0:09:07.000 --> 0:09:10.000 It was a stunning second half performance by the Jets 0:09:10.040 --> 0:09:12.400 in the rain and met life. Jets and Texans combined 0:09:12.440 --> 0:09:16.160 for eleven first half punts and no points. And then 0:09:16.200 --> 0:09:18.680 suddenly the Jets, who in their five game losing streak 0:09:18.720 --> 0:09:21.800 and scored only forty five points total, put up thirty 0:09:21.880 --> 0:09:24.520 three touchdowns three field goals. They beat Houston thirty to six. 0:09:24.640 --> 0:09:27.760 Zach Wilson was on fire twenty seven of thirty six 0:09:27.840 --> 0:09:28.680 three hundred yards. 0:09:28.920 --> 0:09:31.000 His coach is Rob Salam I. 0:09:30.960 --> 0:09:33.600 Thought Zach probably played the best game of his career. 0:09:33.720 --> 0:09:37.319 Just the off schedule stuff. The timing and rhythm and 0:09:37.360 --> 0:09:38.960 getting the ball out to where it needed to get to, 0:09:39.000 --> 0:09:42.360 being aggressive but smart at the same time scrambled. I 0:09:42.440 --> 0:09:45.079 know he had the scramble, but just the aggressiveness of 0:09:45.120 --> 0:09:46.800 scramble and the I mean he was out there having 0:09:46.840 --> 0:09:47.320 a good time. 0:09:47.400 --> 0:09:49.240 And I think there was a report that Wilson, who 0:09:49.240 --> 0:09:51.360 had been benched two week fire, didn't want to play 0:09:51.400 --> 0:09:55.200 big AFC game in Kansas City, Buffalo won twenty to seventeen. 0:09:55.240 --> 0:09:57.839 The Chief for a moment appeared to have gone ahead 0:09:57.840 --> 0:09:59.400 with a minute left on what would have been the 0:09:59.520 --> 0:10:03.120 NFL's Players Play of the Year, a Travis Kelce catch, 0:10:03.480 --> 0:10:06.800 run and lateral throw at Cadarius Tony, but Tony had 0:10:06.840 --> 0:10:10.600 lined up offside. Last night, Dallas won easily over Philadelphia 0:10:10.679 --> 0:10:12.960 thirty three to thirteen. Both teams ten and three tied 0:10:13.040 --> 0:10:15.640 for first game of the day was in Baltimore, Rams 0:10:15.679 --> 0:10:18.720 and Ravens seven league changes. The Ravens won in overtime 0:10:19.080 --> 0:10:22.280 on a seventy six yard punt return by Tylan Wallace, 0:10:22.280 --> 0:10:25.560 who before yesterday had never returned to punt. Jonathan Quick 0:10:25.720 --> 0:10:28.480 la King's going for sixteen years won two Stanley Cups. 0:10:28.480 --> 0:10:30.840 Now the Rangers backup. He beat his old team at 0:10:30.840 --> 0:10:33.360 the Garden Rangers one four to one. Devil's lost for 0:10:33.520 --> 0:10:36.440 one in Edmonton, Lebron James was there recording the moment 0:10:36.800 --> 0:10:39.800 when his son Browny made his debut for USC, five 0:10:39.840 --> 0:10:43.800 months after he suffered cardiac arrets. John Stashieward Bloomberg Sports. 0:10:45.800 --> 0:10:48.840 From coast to coast, from New York to San Francisco, 0:10:49.120 --> 0:10:54.200 Boston to Washington, DC, nationwide on SIRISXAM, the Bloomberg Business 0:10:54.200 --> 0:10:55.800 Appen Bloomberg dot Com. 0:10:56.040 --> 0:10:59.520 This is Bloomberg day Break. Good morning. 0:10:59.559 --> 0:11:03.040 I'm n Israel's war with Hamas is turning into a 0:11:03.080 --> 0:11:06.040 fight to maintain international support as much as it is 0:11:06.080 --> 0:11:09.679 about defeating the militant group in Gaza. The US just 0:11:09.720 --> 0:11:13.920 defeated a UN Security Council resolution calling for an immediate Ceaspire. 0:11:14.240 --> 0:11:17.520 But the latest polling in this country shows President Biden's 0:11:17.520 --> 0:11:20.320 support for Israel's fight maybe turning into even more of 0:11:20.360 --> 0:11:24.959 a political liability for the president from within his own party. 0:11:25.040 --> 0:11:27.120 And for more on all this, we're joined by Bloomberg 0:11:27.160 --> 0:11:30.560 News Senior editor Bill Ferries. Bill, it's good to speak 0:11:30.600 --> 0:11:32.720 with you this morning. We are more than two months 0:11:32.720 --> 0:11:37.800 into this war Israel seems relentless in its determination to 0:11:37.880 --> 0:11:42.199 defeat Hamas. But that is creating this international pushback. 0:11:42.240 --> 0:11:45.840 Now you're exactly right. 0:11:45.920 --> 0:11:50.280 I mean, as you mentioned, the US vetoed this resolution 0:11:50.400 --> 0:11:52.560 at the United Nations that was going to call for 0:11:52.760 --> 0:11:56.439 an immediate seaspire. The amazing or remarkable thing about it 0:11:56.520 --> 0:11:59.960 was the US was the only country on that council 0:12:00.200 --> 0:12:03.080 to vote against it. And it's this is not you know, 0:12:03.200 --> 0:12:06.920 loaded with opponents of the United States. You've got You've 0:12:06.960 --> 0:12:09.520 got France, and you've got the UK. You've got countries 0:12:09.600 --> 0:12:12.840 like Japan and UH and even Ghana on there. 0:12:12.920 --> 0:12:13.640 So it's UH. 0:12:14.640 --> 0:12:17.360 I think at this point it's the US, UH and 0:12:17.520 --> 0:12:22.480 Israel that look increasingly isolated internationally as this continues, the 0:12:22.600 --> 0:12:26.120 US saying it's really Israel has to has to run 0:12:26.160 --> 0:12:29.480 this war UH on its own terms and go after Hamas. 0:12:29.960 --> 0:12:30.120 UH. 0:12:30.160 --> 0:12:33.200 The US has obviously expressed a lot of frustration about 0:12:33.679 --> 0:12:36.480 the civilian death toll, and that's driving a lot of 0:12:36.480 --> 0:12:40.079 the international frustration. But I don't think the UH, the US, 0:12:40.120 --> 0:12:44.800 the Biden administration is interested in really cutting Israel off 0:12:44.840 --> 0:12:48.040 on its own and UH and and demanding that ceasefire 0:12:48.040 --> 0:12:49.720 along with the rest of the international community. 0:12:49.920 --> 0:12:53.079 But it's something that is going to potentially hit President 0:12:53.120 --> 0:12:55.000 Biden as he heads into an election year. 0:12:55.280 --> 0:12:58.240 I mean, that is just a remarkable statement on its 0:12:58.280 --> 0:13:01.720 own to say that the US and Israel are being 0:13:01.840 --> 0:13:05.320 viewed as increasingly isolated on the global stage, and you 0:13:05.440 --> 0:13:09.720 have to wonder whether that support that the President has 0:13:09.800 --> 0:13:12.400 continued to show for Israel is going to be able 0:13:12.440 --> 0:13:15.320 to be maintained when we have the kind of polling 0:13:15.360 --> 0:13:18.800 that we've seen from just this past weekend from CBS 0:13:18.840 --> 0:13:24.319 News and you gov that democratic opposition to the president's 0:13:24.360 --> 0:13:27.240 stance in regards to Israel is growing. 0:13:28.720 --> 0:13:31.120 Right, You kind of wonder what the tipping point might be. 0:13:32.120 --> 0:13:37.160 But what we a remarkable comment we got from Anthony 0:13:37.160 --> 0:13:40.760 Blincoln as well over the weekend was that he doesn't 0:13:40.840 --> 0:13:43.600 see some of the precautions that he's argued for in 0:13:43.720 --> 0:13:48.559 terms of protecting civilians being carried out. So there's definitely 0:13:48.559 --> 0:13:51.400 been a lot of warning shots sent to Israel from 0:13:51.400 --> 0:13:55.480 the US, but they are sticking. The Biden administration is 0:13:55.480 --> 0:13:59.240 sticking with Israel for now. But heading into twenty twenty four, 0:13:59.640 --> 0:14:04.559 I think think the monetary costs of sustaining US support 0:14:04.679 --> 0:14:08.000 and obviously the costs on the battlefield, both on the 0:14:08.040 --> 0:14:11.719 Israeli side and the Palestinian side, will only continue to 0:14:11.760 --> 0:14:12.199 add up. 0:14:13.640 --> 0:14:15.480 So what are you going to be looking for next 0:14:15.600 --> 0:14:19.680 Bill when it comes to how this war is playing out? 0:14:20.160 --> 0:14:22.560 I mean, from some of the latest reporting, we're seeing 0:14:23.280 --> 0:14:27.200 the conflict is really spread out across the Gaza strip 0:14:27.240 --> 0:14:28.240 at this point. 0:14:29.800 --> 0:14:32.600 Right, I think you know, I think you we're still 0:14:32.600 --> 0:14:35.600 looking for signs that at some point could there be 0:14:35.680 --> 0:14:39.960 a second temporary cease fire that allows more hostages to 0:14:40.040 --> 0:14:44.239 be freed. I think that's something both sides that at 0:14:44.240 --> 0:14:46.320 some point in the last you know, in the recent 0:14:46.400 --> 0:14:48.800 week or two have talked about. But it doesn't sound 0:14:48.880 --> 0:14:52.400 like what we're hearing from the mediators and Cutter that 0:14:52.400 --> 0:14:55.200 that's they're making much progress on that. But that certainly 0:14:55.240 --> 0:14:58.200 I think, you know, Israelis have said they would really 0:14:58.240 --> 0:15:01.040 like to see all those hostages returned, So there's always 0:15:01.040 --> 0:15:03.000 a chance I think you could have a breakthrough there, 0:15:03.640 --> 0:15:06.040 and then I think you're gonna You're gonna keep watching 0:15:06.120 --> 0:15:09.080 this this death toll. We do get their questions about 0:15:09.120 --> 0:15:12.880 the total death toll in Gaza, but uh, they are 0:15:12.920 --> 0:15:17.680 the numbers we have. As that continues to rise. Will 0:15:17.720 --> 0:15:20.680 there be you know, will for public frustration hit a 0:15:20.720 --> 0:15:25.360 tipping point where more direct warnings are raised with Israel 0:15:25.440 --> 0:15:27.920 about how long they can prolong this conflict. 0:15:28.160 --> 0:15:32.960 I wonder whether the UH debate around support for Ukraine, 0:15:33.000 --> 0:15:35.880 which has already gotten more complicated, is going to come 0:15:35.880 --> 0:15:39.600 into a greater focus now when we're expecting the President 0:15:39.720 --> 0:15:43.120 of Ukraine to be in person in Washington tomorrow. 0:15:44.520 --> 0:15:44.760 Yeah. 0:15:44.800 --> 0:15:48.240 I think that's a high stakes trip for President Zelenski 0:15:48.400 --> 0:15:50.840 coming to Washington to meet with President Biden and to 0:15:50.920 --> 0:15:52.360 meet with congressional leaders. 0:15:52.720 --> 0:15:55.440 UH. He plans to address the entire Senate. 0:15:56.160 --> 0:15:58.480 I think it's it's hard to imagine a lot of 0:15:58.480 --> 0:16:02.440 people changing their minds at this point as they run 0:16:02.560 --> 0:16:07.040 up against this issue about spending for Ukraine and policies 0:16:07.040 --> 0:16:09.800 at the border. Something is going to have to give there, 0:16:10.320 --> 0:16:13.280 potentially by Friday or Saturday this week, if the White 0:16:13.480 --> 0:16:16.120 White House wants to see any of that funding approved, 0:16:17.040 --> 0:16:20.000 and if they want and if Republicans want to some 0:16:20.080 --> 0:16:22.960 of whom support Ukraine want to go home for the 0:16:23.000 --> 0:16:25.600 holiday break having done more to secure the border. 0:16:26.160 --> 0:16:28.880 Okay, Bill, thanks for this as always. Bill Ferries, Senior 0:16:29.000 --> 0:16:33.480 editor for Bloomberg News, with us this morning, Karen Well Nathan. 0:16:33.520 --> 0:16:37.720 We turned now from geopolitics to a focus on artificial intelligence, 0:16:37.720 --> 0:16:40.360 and Bloomberg's Tom mackenzie got a chance to catch up 0:16:40.400 --> 0:16:43.400 with ARMED CEO re Day Haas. The pairs spoke about 0:16:43.440 --> 0:16:46.720 the company's future and the generative AI revolution and how 0:16:46.840 --> 0:16:50.120 Hass's role has changed since arms public listing. 0:16:50.680 --> 0:16:54.000 We've been public now for a few months. Yeah, so 0:16:54.080 --> 0:16:55.840 I would say I feel like the eyes are upon 0:16:55.880 --> 0:16:59.400 me a little bit more than they were prior. But 0:16:59.480 --> 0:17:01.760 on the other and I try to think about it 0:17:01.840 --> 0:17:05.480 in terms of the future of roment is really not 0:17:05.520 --> 0:17:07.040 measured in what we are today. It's what we're going 0:17:07.080 --> 0:17:08.000 to be in a few years. 0:17:08.040 --> 0:17:11.280 And how do you balance the demands of investors in 0:17:11.320 --> 0:17:14.240 the company now, those new investors and the legacy investors 0:17:14.240 --> 0:17:18.159 and of course Massi Orshuysan SoftBank being the big force, 0:17:18.200 --> 0:17:21.480 gravitational force, So how do you balance those demands. 0:17:21.880 --> 0:17:24.040 So ARM is really a company that it's hard to 0:17:24.040 --> 0:17:27.480 look at quarter to quarter because the technology we're working 0:17:27.560 --> 0:17:30.639 on today is really technology that's going to end up 0:17:30.680 --> 0:17:33.080 in products three years from now, four years from now. 0:17:33.119 --> 0:17:36.080 So while the financial results are important, they're really the 0:17:36.119 --> 0:17:38.560 results of strategies we put in place a number of 0:17:38.600 --> 0:17:40.600 years ago, which we're quite successful. This is what we 0:17:40.600 --> 0:17:42.520 try to do is just make sure that the investors 0:17:42.600 --> 0:17:45.560 understand that while the near term results are very important, 0:17:45.840 --> 0:17:47.840 it's really also important to really think about the long 0:17:47.920 --> 0:17:49.280 term and where we're going directionally. 0:17:49.359 --> 0:17:51.439 But ARM was set up in the nineteen nineties, You've 0:17:51.480 --> 0:17:52.480 been the building. 0:17:52.119 --> 0:17:56.840 Blocks of our digital globe, digital world, digital economy since then. 0:17:57.520 --> 0:17:59.840 And now at this point where we're focused on generative 0:18:00.080 --> 0:18:03.159 AI and that is reshaping this digital ecosystem that we 0:18:04.320 --> 0:18:05.000 now live. 0:18:04.840 --> 0:18:06.040 In or that we will be living on. 0:18:06.560 --> 0:18:11.399 What role do you see ARM playing in that transformed 0:18:11.640 --> 0:18:13.399 digital space in the years ahead. 0:18:13.920 --> 0:18:16.560 Yeah, So, ARM in the thirty plus years has just 0:18:16.600 --> 0:18:20.240 been foundational to computing in a way that no other 0:18:20.280 --> 0:18:23.439 computer architecture before it, and I dare say after it 0:18:23.480 --> 0:18:27.239 has been seventy percent of the world's population touches ARM 0:18:27.280 --> 0:18:31.200 today in some way. We were well known for smartphones 0:18:32.119 --> 0:18:34.960 and for that non smartphones, feature phones, if you will. 0:18:35.480 --> 0:18:38.160 The ARM of today is not only much more diversified 0:18:38.200 --> 0:18:42.159 around as I mentioned before, data centers, automotive, IoT, but 0:18:42.240 --> 0:18:45.400 now as AI and AI workloads are finding their way 0:18:45.440 --> 0:18:49.640 into every single application, whether it's your thermostat or your 0:18:49.720 --> 0:18:52.639 data center, ARM will be there. So I think for 0:18:52.800 --> 0:18:54.840 us in the upcoming years and decades, ARM will be 0:18:54.880 --> 0:18:56.600 foundational to everything going on with AI. 0:18:56.880 --> 0:18:59.520 So you can assure investors that you will remain you 0:18:59.560 --> 0:19:01.120 were sent right now. 0:19:00.920 --> 0:19:03.160 To this digital world that we live in. You will be. 0:19:03.240 --> 0:19:08.200 Essential in that generative AI reshaped world in the years ahead. 0:19:08.240 --> 0:19:09.520 You will continue to play that as s. 0:19:09.720 --> 0:19:11.480 You can't run AI without armor. 0:19:11.800 --> 0:19:14.680 It's foundational, and AI is going to find its way 0:19:14.760 --> 0:19:18.600 into every single electronics device that we use. Again, whether 0:19:18.600 --> 0:19:21.240 it's the smallest device in your home or the largest 0:19:21.320 --> 0:19:23.679 data center that sits out in the out in the wild. 0:19:23.880 --> 0:19:27.000 Every AI executive that I speak to, whether it's deep 0:19:27.080 --> 0:19:30.840 mind or coher or inflection or others, say, the scramble 0:19:30.920 --> 0:19:33.840 for compute is front and center along with the fight 0:19:33.880 --> 0:19:36.879 for talents. How do you see that fight for compute 0:19:36.920 --> 0:19:37.560 going forward? 0:19:37.680 --> 0:19:39.560 I do think for the next number of years we 0:19:39.640 --> 0:19:42.800 are going to see a increasing demand for more and 0:19:42.840 --> 0:19:46.480 more compute. Now, I think it's also going to drive 0:19:46.680 --> 0:19:49.880 is a high degree of need for power efficiency because 0:19:49.920 --> 0:19:54.159 these data centers require hundreds of watts megawatts up to 0:19:54.200 --> 0:19:57.159 the gigawatts of type of energy. We don't produce that 0:19:57.240 --> 0:20:02.320 much energy as a planet. Limitations relative to fossil fuels, 0:20:02.720 --> 0:20:04.080 limitations su sustainable. 0:20:04.560 --> 0:20:07.520 So a rush to get to power. 0:20:07.200 --> 0:20:10.159 Efficiency around these compute models is going to be very, 0:20:10.240 --> 0:20:13.720 very significant. That's great for ARM because the DNA of 0:20:13.760 --> 0:20:16.600 our company is around power efficiency. I want to go 0:20:16.640 --> 0:20:19.920 back to twenty seventeen. You diversified the business. You broke 0:20:19.960 --> 0:20:25.760 out these four different divisions IoT, cloud, infrastructure, autonomous vehicles. 0:20:26.400 --> 0:20:28.359 Why did you see that as necessary? 0:20:28.400 --> 0:20:31.399 You us to twenty seventeen, we would design a mobile 0:20:31.400 --> 0:20:35.479 processor and then really attempt to squeeze it or peanut 0:20:35.480 --> 0:20:38.480 butter it, if you will, into the server space, or 0:20:38.480 --> 0:20:41.119 into the automotive space, or into different areas of IoT. 0:20:42.119 --> 0:20:43.920 It just wasn't sufficient, and we had a lot of 0:20:44.000 --> 0:20:46.960 questions early on, why isn't what's taking ARMS so long 0:20:47.000 --> 0:20:51.080 to be successful in the servers. Many different reasons contributed that, 0:20:51.160 --> 0:20:52.920 but one of them was candidly, we just didn't have 0:20:52.960 --> 0:20:56.160 the right products, and we were able to create neoverse. 0:20:56.200 --> 0:20:59.439 We were able to add custom extensions, things like confidential 0:20:59.440 --> 0:21:03.640 compute that are necessary for building high grade data centers. 0:21:04.119 --> 0:21:06.840 We could put those in the products, and now with neoverse, 0:21:06.880 --> 0:21:10.280 we have a world class competitive entry that you're seeing 0:21:10.320 --> 0:21:13.720 the benefits of it, whether it's the Microsoft, Cobalt or AWS. 0:21:14.640 --> 0:21:17.000 We had to do that in twenty seventeen because it 0:21:17.119 --> 0:21:20.080 was clear that these other markets were demanding it and 0:21:20.359 --> 0:21:22.719 the selfware ecosystem needed to be able to support it. 0:21:22.880 --> 0:21:25.400 What kind of revenue mix would you need to see 0:21:25.720 --> 0:21:29.439 to kind of declare a success in that diversification push. 0:21:30.040 --> 0:21:32.080 I'm going to declare some modicum of success now. 0:21:32.600 --> 0:21:35.600 We were over sixty percent revenue in smartphones, maybe even 0:21:35.680 --> 0:21:40.040 higher prior to this change. Smartphones now, while a very 0:21:40.119 --> 0:21:43.919 large market for US, are about forty percent and declining, 0:21:44.280 --> 0:21:48.160 and our largest growth in terms of revenue are coming 0:21:48.160 --> 0:21:51.280 from these new markets, as I mentioned, cloud and automotive. 0:21:52.640 --> 0:21:55.679 This is Bloomberg Daybreak Today, your morning brief on the 0:21:55.720 --> 0:21:59.280 stories making news from Wall Street to Washington and beyond. 0:21:59.400 --> 0:22:02.200 Look for us on your podcast feed at six am 0:22:02.280 --> 0:22:05.919 Eastern each morning on Apple, Spotify, and anywhere else you 0:22:06.000 --> 0:22:07.080 get your podcasts. 0:22:07.280 --> 0:22:10.000 You can also listen live each morning starting at five 0:22:10.040 --> 0:22:12.680 am Wall Street time on Bloomberg eleven three to zero 0:22:12.680 --> 0:22:15.560 in New York, Bloomberg ninety nine to one in Washington, 0:22:15.640 --> 0:22:18.840 Bloomberg one oh sixty one in Boston, and Bloomberg ninety 0:22:18.880 --> 0:22:20.280 sixty in San Francisco. 0:22:20.640 --> 0:22:23.800 Our flagship New York station is also available on your 0:22:23.840 --> 0:22:29.280 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:22:29.320 --> 0:22:32.720 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:22:32.840 --> 0:22:35.920 the iHeartRadio app, and on Bloomberg dot Com. 0:22:35.960 --> 0:22:38.040 I'm Nathan Hager and I'm Karen Moscow. 0:22:38.240 --> 0:22:41.000 Join us again tomorrow morning for all the news you 0:22:41.119 --> 0:22:44.359 need to start your day right here on Bloomberg Daybreak