Bloomberg Audio Studios, podcasts, radio news. This is the Bloomberg Day ba QT podcast, available every morning on Apple, Spotify or wherever you listen. It's Wednesday, the fifteenth of January in London. I'm Caroline Hepki.

Bloomberg Audio Studios, podcasts, radio news. This is the Bloomberg Day ba QT podcast, available every morning on Apple, Spotify or wherever you listen. It's Wednesday, the fifteenth of January in London. I'm Caroline Hepki.

And I'm Stephen Carroll.

And I'm Stephen Carroll.

Coming up today.

Coming up today.

South Korea's president yunsukkiul is arrested over an investigation into his martial law declaration.

South Korea's president yunsukkiul is arrested over an investigation into his martial law declaration.

The UK's city minister resigns after an ethics review amid pressure on the labor government.

The UK's city minister resigns after an ethics review amid pressure on the labor government.

And a last minute push from Joe Biden. The outgoing US president plans new rules to limit chip exports to China.

And a last minute push from Joe Biden. The outgoing US president plans new rules to limit chip exports to China.

Let's start with a roundup of our top stories.

Let's start with a roundup of our top stories.

South Korea's president yunsukkiul, has been arrested over his brief declaration of martial law last month, anti corruption investigators detained the leader in a raid before dawn. In a video message recorded before he was led away, Yun said the rule of law in the country had completely collapsed.

South Korea's president yunsukkiul, has been arrested over his brief declaration of martial law last month, anti corruption investigators detained the leader in a raid before dawn. In a video message recorded before he was led away, Yun said the rule of law in the country had completely collapsed.

And today I witnessed them forcibly breaching a secured zone using firefighting equipment to prevent any unsavory bloodshed, I have decided to comply with the summons by the Corruption Investigation Office despite their investigation being illegal. However, I am not acknowledging the CIO's investigation.

And today I witnessed them forcibly breaching a secured zone using firefighting equipment to prevent any unsavory bloodshed, I have decided to comply with the summons by the Corruption Investigation Office despite their investigation being illegal. However, I am not acknowledging the CIO's investigation.

Mind Jimaranan Yun has been stripped of presidential powers and now a way to formal impeachment trial. Investigators are examining whether his martial law declaration amounts to an act of insurrection that Yun has argued it was within his power as president to issue the order.

Mind Jimaranan Yun has been stripped of presidential powers and now a way to formal impeachment trial. Investigators are examining whether his martial law declaration amounts to an act of insurrection that Yun has argued it was within his power as president to issue the order.

To the UK where the City Minister has resigned from government, Tulip Sadik will be replaced by former city lobbyist Emma Reynolds after an ethics review into allegations around Sadiq's use and receipt of properties linked to the ousted Bangladeshi regime. Though the pro found that she had not breached them in asterial code, Sadik says she's stepped down to avoid becoming a distract. The news comes as Chancellor Rachel Reeves tried to calm investors spooked by a surge in UK borrowing costs and a head of crucial inflation data. Dude this morning, I set out the fiscal rules of this government at the budget in October that will pay for day to day spending through tax receipts, and that we will get deep down as a share of the economy. We remain committed to those fiscal rules and we will meet them at all times, Rachel reeves, speaking in Parliament yesterday. There is still potential for the market pressure to intensify again this week, with economists warning that the Bank of England could be forced to intervene if we see a higher than expected inflation print today, combined with weaker growth data which is due out on Thursday.

To the UK where the City Minister has resigned from government, Tulip Sadik will be replaced by former city lobbyist Emma Reynolds after an ethics review into allegations around Sadiq's use and receipt of properties linked to the ousted Bangladeshi regime. Though the pro found that she had not breached them in asterial code, Sadik says she's stepped down to avoid becoming a distract. The news comes as Chancellor Rachel Reeves tried to calm investors spooked by a surge in UK borrowing costs and a head of crucial inflation data. Dude this morning, I set out the fiscal rules of this government at the budget in October that will pay for day to day spending through tax receipts, and that we will get deep down as a share of the economy. We remain committed to those fiscal rules and we will meet them at all times, Rachel reeves, speaking in Parliament yesterday. There is still potential for the market pressure to intensify again this week, with economists warning that the Bank of England could be forced to intervene if we see a higher than expected inflation print today, combined with weaker growth data which is due out on Thursday.

In the US, the Biden administration is planning to impose tough new rules on exporting advanced chips to China. Bloomberg has learned the White House intends to announce the measures in the last few days of the current presidency. The changes would require a license to sell semiconductor with processing power below a fourteen nanometer threshold.

In the US, the Biden administration is planning to impose tough new rules on exporting advanced chips to China. Bloomberg has learned the White House intends to announce the measures in the last few days of the current presidency. The changes would require a license to sell semiconductor with processing power below a fourteen nanometer threshold.

Donald Trump's pick to run the Pentagon appears on course to get the job. After a US Senate hearing, Republicans rallied around Pete Hegseth, who dismissed accusations have passed the alcohol abuse, sexual misconduct, and financial mismanagement.

Donald Trump's pick to run the Pentagon appears on course to get the job. After a US Senate hearing, Republicans rallied around Pete Hegseth, who dismissed accusations have passed the alcohol abuse, sexual misconduct, and financial mismanagement.

What became very evident to us from the beginning. There was a coordinated smear campaign orchestrated in the media against US that was clear from moment one.

What became very evident to us from the beginning. There was a coordinated smear campaign orchestrated in the media against US that was clear from moment one.

A former Fox News host Peter Hegseth, and his confirmation is seen as a sign of the present elects power. Donald Trump says that he will create an external revenue service tasked with collecting tariffs on foreign imports and lists and Democrats have pointed out that tariffs are already collected by the US Customs and Border Protection Agency.

A former Fox News host Peter Hegseth, and his confirmation is seen as a sign of the present elects power. Donald Trump says that he will create an external revenue service tasked with collecting tariffs on foreign imports and lists and Democrats have pointed out that tariffs are already collected by the US Customs and Border Protection Agency.

US consumer prices are expected to show a fifth month of increases as the market bets on inflation fears. Analysts expect the Bureau of Labor Statistics to report a zero point three percent rise in core inflation later today. If correct, the data would boost the case for an extended pause in Federal Reserve interest rate cuts. The figures come at a critical time for investors and policymakers, with a yield on tenure Treasury notes of more than half a percentage point since the last print.

US consumer prices are expected to show a fifth month of increases as the market bets on inflation fears. Analysts expect the Bureau of Labor Statistics to report a zero point three percent rise in core inflation later today. If correct, the data would boost the case for an extended pause in Federal Reserve interest rate cuts. The figures come at a critical time for investors and policymakers, with a yield on tenure Treasury notes of more than half a percentage point since the last print.

The European Central Bank is pushing back against investors who think that rate cuts are off the table. Markets see firm inflation, a stronger US jobs market, and Donald Trump's economic disruption, keeping interest rates high around the world, but Finland's only ren is one of a number of ECB policymakers pointing to the growth outlook.

The European Central Bank is pushing back against investors who think that rate cuts are off the table. Markets see firm inflation, a stronger US jobs market, and Donald Trump's economic disruption, keeping interest rates high around the world, but Finland's only ren is one of a number of ECB policymakers pointing to the growth outlook.

Infatally stabilizing at our two percent target. Employment is holding up its robust on the mines side. The growth outwalk has served weekend. It's so fully subdued too.

Infatally stabilizing at our two percent target. Employment is holding up its robust on the mines side. The growth outwalk has served weekend. It's so fully subdued too.

Oliven, speaking to Bloomberg there earlier this week, he was joined by Francois Villewar de Gallo and Janis so Naras, who have doubled down on forecasts of one hundred basis point cuts for the ECB by the middle of the year.

Oliven, speaking to Bloomberg there earlier this week, he was joined by Francois Villewar de Gallo and Janis so Naras, who have doubled down on forecasts of one hundred basis point cuts for the ECB by the middle of the year.

And dozens of people are missing in Los Angeles as high winds raise further wildfire risks. Around two million people are facing extreme fire conditions, with eighty eight thousand residents under evacuation orders and another almost eighty five thousand under warnings. President Biden has offered his support to those affected.

And dozens of people are missing in Los Angeles as high winds raise further wildfire risks. Around two million people are facing extreme fire conditions, with eighty eight thousand residents under evacuation orders and another almost eighty five thousand under warnings. President Biden has offered his support to those affected.

The heart of the nation are with the victims and families left behind and all the people who've lost their homes, lotteries in so much, so much to these fires. In another reminder, tragedies like this is not about blue states and red states, not about conservats and liberals. It's about the United States of America.

The heart of the nation are with the victims and families left behind and all the people who've lost their homes, lotteries in so much, so much to these fires. In another reminder, tragedies like this is not about blue states and red states, not about conservats and liberals. It's about the United States of America.

President Joe Biden was speaking as conditions are expected to improve towards the end of the week, giving authorities a better chance to control the blazers, which have already killed twenty four people. Total losses for the insurance industry as a result of the destruction are estimated to be as high as forty billion dollars according to analysts.

President Joe Biden was speaking as conditions are expected to improve towards the end of the week, giving authorities a better chance to control the blazers, which have already killed twenty four people. Total losses for the insurance industry as a result of the destruction are estimated to be as high as forty billion dollars according to analysts.

Those are our top stories for you this morning. In terms of the markets, Asian stocks seeing some pretty choppy trading ahead of the US CPI print today. You've got the MSCI Asia Pacific Index currently in the red chares of TSMC falling two percent after that news out of the US. The push to tightened chip flows to China, the PBOC in China's dialed up liquidity injections. Also, when it comes to Japan, the BOJ policymaker a way to keeping the door open for a genuine interest rate hike. The Japanese yen strengthening this morning, up four tenths of one percent, two year Japanese bond deals rising to the highest since two thousand and eight. Yesterday. Of course, in terms of the other main story in markets, thirty year treasury yields touch five percent again the second time this week. The guilt route took a bit of a pause. The dollar fell yesterday. The Bloomberg Dollar Spot index this morning is down again. And looking at stock futures for the European market open currently we're down the sorry, we're upper tenth of one percent, so those the markets.

Those are our top stories for you this morning. In terms of the markets, Asian stocks seeing some pretty choppy trading ahead of the US CPI print today. You've got the MSCI Asia Pacific Index currently in the red chares of TSMC falling two percent after that news out of the US. The push to tightened chip flows to China, the PBOC in China's dialed up liquidity injections. Also, when it comes to Japan, the BOJ policymaker a way to keeping the door open for a genuine interest rate hike. The Japanese yen strengthening this morning, up four tenths of one percent, two year Japanese bond deals rising to the highest since two thousand and eight. Yesterday. Of course, in terms of the other main story in markets, thirty year treasury yields touch five percent again the second time this week. The guilt route took a bit of a pause. The dollar fell yesterday. The Bloomberg Dollar Spot index this morning is down again. And looking at stock futures for the European market open currently we're down the sorry, we're upper tenth of one percent, so those the markets.

In a moment, we'll bring you more on the arrest of South Korea's impeached president, plus what the latest we've heard from the US and those moves to try and limit exports of chips to China. And we'll also be discussing the resignation of the City Minister here in the UK. But it's actually another story that I wanted to talk about first to do with the UK, and this is to do with the AI Strategy, one of the big parts of the government's plans to create growth in the UK, unveiled earlier this week. Bloomberg Opinions columnist parme Olsen has been giving her take of the new plan and essentially she sees it as a bit of a misfire by the government. She says the strength that the UK has has always been that middle ground in terms of regulation between the US and the EU. But Kirstarmer's plan is vague, it doesn't contain numbers that seem achievable and doesn't account for when trying to calculate the economic benefits that investment now might take years to pay off down the line.

In a moment, we'll bring you more on the arrest of South Korea's impeached president, plus what the latest we've heard from the US and those moves to try and limit exports of chips to China. And we'll also be discussing the resignation of the City Minister here in the UK. But it's actually another story that I wanted to talk about first to do with the UK, and this is to do with the AI Strategy, one of the big parts of the government's plans to create growth in the UK, unveiled earlier this week. Bloomberg Opinions columnist parme Olsen has been giving her take of the new plan and essentially she sees it as a bit of a misfire by the government. She says the strength that the UK has has always been that middle ground in terms of regulation between the US and the EU. But Kirstarmer's plan is vague, it doesn't contain numbers that seem achievable and doesn't account for when trying to calculate the economic benefits that investment now might take years to pay off down the line.

Yeah.

Yeah.

Absolutely, I think that we did a whole number of interviews, didn't we around that AI strategy that was on veiled. The government is under pressure to deliver on some of its promises. When we spoke to a number of people involved in artificial intelligence, they did seem to be making this clear request for more clarity for a strong kind of guideline guardrail really from the UK government on Monday, I mean, Palme also making this point that actually Britain has this leading role as a safety regulator, that more should be made of that. But it's certainly does seem that the industry had high popes and they haven't got it. Maybe the government though, is caught up obviously given the market ternel that we've seen in the last week to ten days.

Absolutely, I think that we did a whole number of interviews, didn't we around that AI strategy that was on veiled. The government is under pressure to deliver on some of its promises. When we spoke to a number of people involved in artificial intelligence, they did seem to be making this clear request for more clarity for a strong kind of guideline guardrail really from the UK government on Monday, I mean, Palme also making this point that actually Britain has this leading role as a safety regulator, that more should be made of that. But it's certainly does seem that the industry had high popes and they haven't got it. Maybe the government though, is caught up obviously given the market ternel that we've seen in the last week to ten days.

Yeah, indeed, and of course the CPI figures out this morning as well. Going to add to the focus on the UK economy, let's turn those to South Korea first to an investor where investigators have arrested President unsukiol over his brief declaration of martial law just over a month ago, our reporter Sam came joins us from sold for more Sam, thanks for joining us. This was the second attempt to arrest the impeached leader.

Yeah, indeed, and of course the CPI figures out this morning as well. Going to add to the focus on the UK economy, let's turn those to South Korea first to an investor where investigators have arrested President unsukiol over his brief declaration of martial law just over a month ago, our reporter Sam came joins us from sold for more Sam, thanks for joining us. This was the second attempt to arrest the impeached leader.

What happened, well, basically, it all began with Yune declaring martial law on December third, in the middle of the night, where he sent troops to the National Assembly, which is a place that he called a den of criminals that houses pro North Korea sympathizers.

What happened, well, basically, it all began with Yune declaring martial law on December third, in the middle of the night, where he sent troops to the National Assembly, which is a place that he called a den of criminals that houses pro North Korea sympathizers.

Trying to paralyze the government. The opposition quickly ended.

Trying to paralyze the government. The opposition quickly ended.

The martial law in position with emotion and ever since, you know, they the opportunity has charged with insurrection and this charge allows for an investigation against a sitting president within the constitution. So prosecutors sought to question him, which Jun refused, So prosecutors managed to secure.

The martial law in position with emotion and ever since, you know, they the opportunity has charged with insurrection and this charge allows for an investigation against a sitting president within the constitution. So prosecutors sought to question him, which Jun refused, So prosecutors managed to secure.

An arrest ward against him.

An arrest ward against him.

But the first attempt to detain Yun for questioning fail and you know now the second attempt, which took place today, it turned out to be a success, with presidential guards apparently opening the pathway to June's residents, possibly either because June didn't want to risk a physical conflict with prosecutors and police, or because the police were determined, determined enough to brave such a conflict and the presidential guards backed off. Basically, more details of what happened will emerge in coming hours and days.

But the first attempt to detain Yun for questioning fail and you know now the second attempt, which took place today, it turned out to be a success, with presidential guards apparently opening the pathway to June's residents, possibly either because June didn't want to risk a physical conflict with prosecutors and police, or because the police were determined, determined enough to brave such a conflict and the presidential guards backed off. Basically, more details of what happened will emerge in coming hours and days.

But what happens now in terms of the investigation against him.

But what happens now in terms of the investigation against him.

June will be in police custody for forty eight hours. During that period, the team of anti corruption prosecutors will likely see, you know, try to get another arrest warrant that would allow them to detain him for up to twenty days, and that would put Yun behind bars, and that would make him the first president in career's history to be jail while he's in office. Even though the impeachment motion passed against him last month has already suspended him from duty.

June will be in police custody for forty eight hours. During that period, the team of anti corruption prosecutors will likely see, you know, try to get another arrest warrant that would allow them to detain him for up to twenty days, and that would put Yun behind bars, and that would make him the first president in career's history to be jail while he's in office. Even though the impeachment motion passed against him last month has already suspended him from duty.

For now, we're hearing reports that.

For now, we're hearing reports that.

UN's exercising his right to remain silent, and at.

UN's exercising his right to remain silent, and at.

The same time, there's a separate.

The same time, there's a separate.

Legal proceeding going on against him at the Constitutional Court, which has several months to determine if the impeachment motion against him is valid.

Legal proceeding going on against him at the Constitutional Court, which has several months to determine if the impeachment motion against him is valid.

If the court says yes.

If the court says yes.

Yun will no longer be president, and there'll be a snap election to replace Yun.

Yun will no longer be president, and there'll be a snap election to replace Yun.

What does all of this mean for the running of the country and the economy.

What does all of this mean for the running of the country and the economy.

Well, if this snap election is held, we're likely to see a variety of presidential runners trying to replace Yun, and one of those would likely be the main opposition chief name Ijmong, because he's been the front runner in presidential polls for some months now. It's kind of unclear who would represent Jun's block, But if polls are a decent guide of what's to happen, the next president of the country is likely to be someone who has been at odds with Jun over a variety of policies, from taxes to physical policy to relations with the US and China. So you can kind of expect a reversal of a lot of the policies that we've been seeing under Yun. And of course it would mean a certain level of disruption of continuity in economic policy, and that would vote so well for South Korea when expert growth is moderating and the country is concerned already about tariff plans by Donald Trump, who's coming back to office next week.

Well, if this snap election is held, we're likely to see a variety of presidential runners trying to replace Yun, and one of those would likely be the main opposition chief name Ijmong, because he's been the front runner in presidential polls for some months now. It's kind of unclear who would represent Jun's block, But if polls are a decent guide of what's to happen, the next president of the country is likely to be someone who has been at odds with Jun over a variety of policies, from taxes to physical policy to relations with the US and China. So you can kind of expect a reversal of a lot of the policies that we've been seeing under Yun. And of course it would mean a certain level of disruption of continuity in economic policy, and that would vote so well for South Korea when expert growth is moderating and the country is concerned already about tariff plans by Donald Trump, who's coming back to office next week.

Yeah.

Yeah.

Absolutely, Sam, Thank you so much for being with us learning the situation in South Korea. Are reporter Sam Kim there joining us at Live from soul.

Absolutely, Sam, Thank you so much for being with us learning the situation in South Korea. Are reporter Sam Kim there joining us at Live from soul.

Here in the UK, the city minister has resigned from her job after an ethics review into allegations around her use and receipt of properties linked to the ousted Bangladeshi regime. Ulipsidik quit despite being cleared of wrongdoing and an investigation, saying she was acting to avoid distraction for the government at a time when labors under pressure over the fiscal situation. Our reporter to at Bio is here with more tiwa why did Tulipsidik resign?

Here in the UK, the city minister has resigned from her job after an ethics review into allegations around her use and receipt of properties linked to the ousted Bangladeshi regime. Ulipsidik quit despite being cleared of wrongdoing and an investigation, saying she was acting to avoid distraction for the government at a time when labors under pressure over the fiscal situation. Our reporter to at Bio is here with more tiwa why did Tulipsidik resign?

Now?

Now?

This is a saga that's been going on really for quite a while now. The Prime Minister has been facing calls to dismiss her for months, and that's because, as you mentioned, ongoing allegations that she's benefited from properties that may have been acquired with funds embezzled by the regime of Sheik Hasina in Bangladesh. That's Ulipsidik's aunt, and these calls are coming, especially because part of her brief as a city minister included in that was fighting corruption. It seems things might have finally come to a head as those cause have kept getting louder, and last week she did refer herself to the Prime Minister's advisor on ministerial interests, Laurie Magnus. Now Luri Magnus said in his review, his formal review into this matter, that there was no wrongdoing, no financial impropriety on the part of Tulip Sadik, but he did say that her involvement in the scandal was regrettable given her ministerial position. So she says she's resigning now to avoid becoming a further distraction to government work and the work of the Treasury.

This is a saga that's been going on really for quite a while now. The Prime Minister has been facing calls to dismiss her for months, and that's because, as you mentioned, ongoing allegations that she's benefited from properties that may have been acquired with funds embezzled by the regime of Sheik Hasina in Bangladesh. That's Ulipsidik's aunt, and these calls are coming, especially because part of her brief as a city minister included in that was fighting corruption. It seems things might have finally come to a head as those cause have kept getting louder, and last week she did refer herself to the Prime Minister's advisor on ministerial interests, Laurie Magnus. Now Luri Magnus said in his review, his formal review into this matter, that there was no wrongdoing, no financial impropriety on the part of Tulip Sadik, but he did say that her involvement in the scandal was regrettable given her ministerial position. So she says she's resigning now to avoid becoming a further distraction to government work and the work of the Treasury.

So she's being replaced by Emma Reynolds, someone with links of the financial services sector, quite well known in the City of London.

So she's being replaced by Emma Reynolds, someone with links of the financial services sector, quite well known in the City of London.

Yeah, that's right, Caroline.

Yeah, that's right, Caroline.

So Emma Reynolds. Until last year she was the chief lobbyist for the City UK, which is a trade group that represents banks here in London's financial center. Now this appointment shows that the government is keen to still uphold those links with the City of London, particularly at a time and as the Chancellor and other ministers have hammered home in recent weeks, they're really trying to harness the power of the UK's financial sector to drive economic growth, which has proven elusive so far, and there's no doubt the Prime Minister will be hoping that Reynolds can leverage some of those city links and contacts to help with that mission.

So Emma Reynolds. Until last year she was the chief lobbyist for the City UK, which is a trade group that represents banks here in London's financial center. Now this appointment shows that the government is keen to still uphold those links with the City of London, particularly at a time and as the Chancellor and other ministers have hammered home in recent weeks, they're really trying to harness the power of the UK's financial sector to drive economic growth, which has proven elusive so far, and there's no doubt the Prime Minister will be hoping that Reynolds can leverage some of those city links and contacts to help with that mission.

Tima, What does this news mean for the government at a time when they're facing many other challenges as we've been reporting.

Tima, What does this news mean for the government at a time when they're facing many other challenges as we've been reporting.

Oh, this really couldn't be coming out of worse time for the government, especially the Treasury. It was just in November last year that the last high profile minister quit, that's Louise Haigu, the Transport Secretary, and now we've got the City Minister resigning at a time when the Treasury is facing really high levels of scrutiny. That's after the huge spike in UK borrowing costs that we've seen over the last week, and even questions about Rachel Reeves's future in her role as Chancellor. So it's not an ideal time for the government at all, especially as we're facing a pivot economic data release today in the form of the latest UK inflation numbers. We have the City Minister stepping down on the eve of that important data release. Not ideal for a government that's trying to communicate stability and credibility to an already quite jittery UK market.

Oh, this really couldn't be coming out of worse time for the government, especially the Treasury. It was just in November last year that the last high profile minister quit, that's Louise Haigu, the Transport Secretary, and now we've got the City Minister resigning at a time when the Treasury is facing really high levels of scrutiny. That's after the huge spike in UK borrowing costs that we've seen over the last week, and even questions about Rachel Reeves's future in her role as Chancellor. So it's not an ideal time for the government at all, especially as we're facing a pivot economic data release today in the form of the latest UK inflation numbers. We have the City Minister stepping down on the eve of that important data release. Not ideal for a government that's trying to communicate stability and credibility to an already quite jittery UK market.

Yeah, the time is certainly strange. Tiwa, thank you so much for being with us. That is our reporter Tia at a bio there on the resignation of the City Minister tu Lip Sadik.

Yeah, the time is certainly strange. Tiwa, thank you so much for being with us. That is our reporter Tia at a bio there on the resignation of the City Minister tu Lip Sadik.

The United States is planning to introduce new regulations to prevent advanced chips being sold to China, targeting chip producers like TSMC, Samsung and Intel. That's coming just days ahead of Donald Trump taking office, with the incoming president saying he wants to create an external revenue service to collect tariffs on foreign imports. Are Emea and news director Rosla maths Than joins us now for more. Raz good morning. What are the new rules being planned by the Biden administration targeting China? And I suppose how significant are they given that we're only a couple of days away from the innauguration of Donald Trump.

The United States is planning to introduce new regulations to prevent advanced chips being sold to China, targeting chip producers like TSMC, Samsung and Intel. That's coming just days ahead of Donald Trump taking office, with the incoming president saying he wants to create an external revenue service to collect tariffs on foreign imports. Are Emea and news director Rosla maths Than joins us now for more. Raz good morning. What are the new rules being planned by the Biden administration targeting China? And I suppose how significant are they given that we're only a couple of days away from the innauguration of Donald Trump.

Well, it is all.

Well, it is all.

It's a part of this effort that seems to be happening from the Biden administration in the waning days to get as much stuff done as they can before they're out the door. Breging the question why they didn't do it really previously, but certainly very busy, you'd have to say, in their final weeks on everything from the Middle East to Cuba and to chips. And of course this comes after the news on nvideo as well, which is about managing the flow of AI chips, and this is in the same realm. It's really about the very high end of the chip market, so fourteen to sixteen nanometers or less, you know.

It's a part of this effort that seems to be happening from the Biden administration in the waning days to get as much stuff done as they can before they're out the door. Breging the question why they didn't do it really previously, but certainly very busy, you'd have to say, in their final weeks on everything from the Middle East to Cuba and to chips. And of course this comes after the news on nvideo as well, which is about managing the flow of AI chips, and this is in the same realm. It's really about the very high end of the chip market, so fourteen to sixteen nanometers or less, you know.

Very powerful processing chips.

Very powerful processing chips.

And it's less about penalizing but more about really encouraging in a way and leaning on companies like TSMC to explore their supply chain, where exactly are your chips going, who are your customers, who are they selling onto? And this follows, of course, the the news that some time ago that TSMC chips turned up in Huawei kit And that's the concern is that eventually these things find their way through to some Chinese companies and it's about saying to them, be very careful about your supply chain, workout who your customers are when it comes to these very high level chips. But this is more of an overlay move than something very startling on its own.

And it's less about penalizing but more about really encouraging in a way and leaning on companies like TSMC to explore their supply chain, where exactly are your chips going, who are your customers, who are they selling onto? And this follows, of course, the the news that some time ago that TSMC chips turned up in Huawei kit And that's the concern is that eventually these things find their way through to some Chinese companies and it's about saying to them, be very careful about your supply chain, workout who your customers are when it comes to these very high level chips. But this is more of an overlay move than something very startling on its own.

The timing is important, isn't It's only a few days until Donald Trump takes over. He is doubling down on rhetoric around trade tariffs.

The timing is important, isn't It's only a few days until Donald Trump takes over. He is doubling down on rhetoric around trade tariffs.

What more have we learned?

What more have we learned?

Well, he's talking about setting up this external revenue service, which is a bit of a QT title to use, but no.

Well, he's talking about setting up this external revenue service, which is a bit of a QT title to use, but no.

More detail than that.

More detail than that.

Is this just a way to describe what's already happening because tariff's are already collected through the border, you know, through the border mechanisms that exist, and it's only about two percent obviously, and maybe he wants that to go up, but you know there is a mechanism through custom stems and border protection already. Is he describing something that already exists, and anyway, you don't actually collect the revenue externally, it's really collected from US consumers. And this is the broader concern about tariffs and imposing blanket tariffs internationally, is that the impact can be really felt on the US consumer and then on inflation. And that's the boomerang effect of tariffs that we're talking about. So this is really a rhetorical flourish, if anything, from Donald Trump, and very unclear if he means anything tangible to change.

Is this just a way to describe what's already happening because tariff's are already collected through the border, you know, through the border mechanisms that exist, and it's only about two percent obviously, and maybe he wants that to go up, but you know there is a mechanism through custom stems and border protection already. Is he describing something that already exists, and anyway, you don't actually collect the revenue externally, it's really collected from US consumers. And this is the broader concern about tariffs and imposing blanket tariffs internationally, is that the impact can be really felt on the US consumer and then on inflation. And that's the boomerang effect of tariffs that we're talking about. So this is really a rhetorical flourish, if anything, from Donald Trump, and very unclear if he means anything tangible to change.

I've been tracking, of course, all that commentary very closely as we count down to the inauguration. Another story that we have been following to do with Elon Mosque accused by the SEC of cheating Twitter shareholders and the MOE up to his takeover of the social media platform. Is this going to be damaging from Mosque? And given his proximity to Donald Trump.

I've been tracking, of course, all that commentary very closely as we count down to the inauguration. Another story that we have been following to do with Elon Mosque accused by the SEC of cheating Twitter shareholders and the MOE up to his takeover of the social media platform. Is this going to be damaging from Mosque? And given his proximity to Donald Trump.

Well, he sort of flagged a number of months ago that this was in the wings, and from dating back to obviously twenty twenty two, we know the SEC has been looking at this acquisition and mainly about must transparency or potential lack thereof through the process. It doesn't seem to be inferring at this point that he did anything deliberate. It's almost like they failed to file paperwork or something, or you know, they're not saying that he was deplicitus here. It's just that somewhere along the line, notifications weren't done that should have been done in the process of building stakes in companies, and therefore, if he had alerted the world that he was building this stake, the shares would have gone up and that would have had an impact for others. And so it's the question of transparency. I mean, does it really affect Musk. He faces lots of different lawsuits every day, and.

Well, he sort of flagged a number of months ago that this was in the wings, and from dating back to obviously twenty twenty two, we know the SEC has been looking at this acquisition and mainly about must transparency or potential lack thereof through the process. It doesn't seem to be inferring at this point that he did anything deliberate. It's almost like they failed to file paperwork or something, or you know, they're not saying that he was deplicitus here. It's just that somewhere along the line, notifications weren't done that should have been done in the process of building stakes in companies, and therefore, if he had alerted the world that he was building this stake, the shares would have gone up and that would have had an impact for others. And so it's the question of transparency. I mean, does it really affect Musk. He faces lots of different lawsuits every day, and.

He's a very wealthy man and a bit like Trump.

He's a very wealthy man and a bit like Trump.

He likes to parlay these moments into you know, Brevardo for himself, right, very much like Donald Trump says, Look, I've got all these against me, their conspiracies against me.

He likes to parlay these moments into you know, Brevardo for himself, right, very much like Donald Trump says, Look, I've got all these against me, their conspiracies against me.

I'm being targeted.

I'm being targeted.

All I'm trying to do is you know, represent the country or something, or do my business. And so very much in the vein of that, you can imagine that Musk is going to come out with that kind of retrig Does it really impact him and his business in a negative way?

All I'm trying to do is you know, represent the country or something, or do my business. And so very much in the vein of that, you can imagine that Musk is going to come out with that kind of retrig Does it really impact him and his business in a negative way?

Very unlikely.

Very unlikely.

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