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News when you wanted with Bloomberg News. Now I'm Doug Prisner. The White House is claiming victory in a showdown with Columbia over accepting deported migrants from the US. Earlier, President Trump slapped tariffs and travel bands on Columbia after the government refused to allow two planes of deported migrants to land on Colombian soil. Trump ordered an emergency twenty five percent tariff on all Colombian goods coming into the US, and then a short while later, the President of Columbia retaliated and ordered tariffs of twenty five percent on US goods. But now the White House says the Colombian government has agreed to all President Trump's terms.
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China next, where factory activity contracted to its slowest pace since August ahead of the Lunar New Year holiday. The manufacturing PMI dropped to a reading of forty nine point one production and new orders fell to a five month low. Weak global demand in steve US tariffs could hurt Chinese exports going forward. That's critical because last year exports made up nearly a third of Chinese economic growth. By the way, the non manufacturing PMI fell to a reading of fifty point two. Chinese AI startup deep Seek is rocking the technology world over the weekend in China, buzz grew about deep Seek's latest AI model being cost effective while running on reduced capability chips. Now this potentially raises questions over US tech dominance in AI, as well as the high valuations of leading AI companies like Nvidia and the investment case for the entire AI supply chain. Tech earnings will be in focus in the week ahead, with four of the mag seven companies slated to report. A preview from Bloomberg's Charlie Pellett.
We'll be hearing from Apple, Meta Platforms, Microsoft and Tesla, and Berry is managing partner and founder of Thread Needle Ventures.
So I think if we don't see the results in this earnings period at some point point, this euphoria Tramer on post selection, I think runs out.
Also reporting this week Boeing, Caterpillar, chevron X on Mobile, General Motors, IBM, Intel, Starbucks, MasterCard, and Visa in New York Charlie Pewett Bloomberg Radio.
Monetary policy will also be a theme this week, as the FED has its first rate decision of twenty twenty five. Here's Bloomberg's Michael McKee.
Given the Fed is expected to leave rates unchanged this week, the focus may end up being more on the reaction to the decision than the decision itself, but not in the markets. How will new President Trump feel about interest rates not moving down, considering he demanded his word rates go down immediately. That may depend on how FED Chair J Powell describes the outlook. We don't get new official forecasts or a new dot plot, which puts the focus squarely on Powell and what he says about what the FED might do next. Michael to kee Bloomberg Radio.
Elon Musk is said to be exploring the use of blockchain technology at the Department of Government Offficiency as a way of reducing cost and increasing transparency. Here's Bloomberg's Denise Pellegrini.
Sources say that Musk's team has met with representatives of various public blockchains to evaluate their technology and discuss potential uses, including tracking federal spending and securing data. Years ago, a bunch of large companies, including Walmart, launched blockchain efforts. They used private blockchains that didn't make the transactions publicly viewable. Most of those blockchain efforts, though, were hard to govern installed and turn out not to be cheaper than other databases either Denise Pellgreeney Bloomberg Radio.
The CIA is shifting its view on the origin of COVID nineteen that story from Bloomberg's at Collegi.
The Central Intelligence Agency said the COVID nineteen pandemic more likely originated from a lap leak than a natural source, shifting its stance after previously saying both scenarios were possible. The CIA's new view aligns the agency with the Federal Bureau of Investigation and the Department of Inner which say the pandemic that caused more than seven million deaths worldwide likely originated from a lab in Wuhan, China. The announcement follows the arrival of CIA Director John Ratcliffe, President Donald Trump's pick to head the agency, who has been vocal on the issue, ed Coleggy Bloomberg Radio.
In Sporting News. The matchup for Super Bowl fifty nine in New Orleans is set. The Philadelphia Eagles will be taking on the Kansas City Chiefs. Patrick Mahomes and the Chiefs outlasted the Buffalo Bills thirty two twenty nine. Earlier in the day, the Eagles knocked out the Washington Commanders by a score of fifty five twenty three. And that is news when you want it with Bloomberg News Now, I'm Doug Prisoner and this is Bloomberg