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News when you wanted with Bloomberg News Now, I'm Doug Prisoner. Earlier tonight, President Biden delivered his farewell address to the American people from the Oval Office.
We've proven we don't have to choose between protecting the environment and growing economy. We're doing both. The powerful forces want to wield their unchecked influence to eliminate the steps we've taken to tackle a crime and crisis to serve their own interest for power and profit. We must not be bullied the sacrifice in the future, the future of our children and our grandchildren.
That is President Biden speaking there. His address capped a five decade career in politics and public service. He stressed a familiar theme of working to preserve and protect democratic ideals. Biden's remarks came on a day that we also got word a ceasefire in Gaza has been reached. This brings a temporary haul to the war in Gaza, a conflict that has killed tens of thousands over the last fifteen months, and it sparked broader turmoil across the Middle East. Here is Bloomberg's Nick Watams.
Israel would not have agreed to a deal unless there was an agreement around the release of at least some of the hostages who are remaining in Gaza. So the question is how many and when, and then also the big question looking forward, you know, if there are violations to the ceasefire, what's that going to mean for its overall viability?
That is Bloombergg's Nick Watams. Now, details of the agreement are still unclear, and the fate of the dozens of hostages captured after Hamas tact Israel on October seventh, twenty twenty three, is so far unknown. A formal announcement is expected soon, but we have still not heard from Israeli Prime Minister Benjamin Netnyahu. We're getting more details on those Chinese state sponsored hackers who breached the US Treasury Department late last year. An agency report reviewed by Bloomberg News shows the hackers got into more than four four hundred laptop and desktop computers, taking particular interest in the machines of staff and senior leaders focused on sanctions. The hacker's accessed employee user names and passwords, as well as more than three thousand files on unclassified PCs. President elect Trump's nominee for Treasury Secretary, Scott Bessant will be on Capitol Hill tomorrow for his confirmation hearing. In prepared remarks, Besant will emphasize the importance of maintaining the US dollar as the world's reserve currency, and he'll also discuss securing supply chains and deploying sanctions as a way of addressing national security requirements. Microsoft CEO Sakia Adella became the latest tech industry chief to make overtures to the incoming Trump administration. Nadella met with President Electroump and Elon Musk to discuss artificial intelligence and cybersecurity. The conversation included Microsoft's pledge to invest eighty billion dollars on AI data Center's worldwide wide and the meeting touched on export control policy, as well as the need for a balance between security protection and the ability of US tech companies to expand rapidly. The US has introduced new regulations to prevent advanced chips from being sold to China now. These rules are aiming to restrict China's access to advanced technologies, including artificial intelligence chips and high bandwidth memory chips. Here's Bloomberg's minmen Low.
These are latest rules that will require chip makers like TSMC, SOMESNG Intel to step up due diligence of their customers. The US is expanding licensing requirements for these foundries and packaging companies, with tighter rules being applied unless these customers are trusted customers that are able to prove that they're processing their processes are below a certain performance threshold.
That is Bloomberg's minmen Low reporting. Now, these chip restrictions come as the Biden administration is trying to cement its legacy in restricting the flow of advanced technologies to China. A group of investors is looking to form an international basketball league to rival the NBA. We are told the group is being advised by Maverick Carter, business partner of La lakerstar Lebron James. The group, we are told, is seeking to raise five billion dollars from private capital sources, and it's tapped Ubs Group and Evercore to help raise the money. And that is news when you want it with Bloomberg News. Now, I'm Doug Prisoner, and this is Bloomberg