annabelle: paul allen in sydney and u.k.minister says the economy will feel the impact of slower growth and turmoil. they spoke at the wto ministerial meeting in abu dhabi. >> it concerns us when growth under shoots what we were forecasting. higher growth means greater prosperity. there are reasons we want growth to recover. that is why the u.k. is taking strong action in the red sea with our allies to make sure trade continues to flow in the world does not suffer from events in the middle east. >> you mentioned developing countries should benefit and this conference has been about that. what about the digital goods tariff moratorium? does that get renewed? >> this is essential. going backwards for it not to be renewed, there would be the potential for customs duties on anything from sharing spotify or netflix or anything transmitted digitally. we think this would be a retrograde step to go back 20 years or more. it benefits the world and developing countries to not have digital duties. >> some countries might see it as a ch

let's get to paul allen with other political headlines. paul: supporters of the former pakistan prime minister staged protests in key cities across the country has two rival parties held talks to form a government even though independence mostly backed by kn han won the most seats in thursday's polls. his party called for peaceful. the election commission of pakistan denied the claims. the philippine coast guard since chinese vessels made it dangerous blocking maneuvers in the south kind -- south china sea this month with tensions persisting over --. during its nine-day assignment near scarborough shoal. china says the philippines activities were an illegal intrusion and measures taken by the chinese aside were professional and standardized. the biden administration is launching a $5 billion semiconductor research consortium to bolster chip design and hardware innovation in the u.s.. he had form utterly established the national semiconductor technology center which plans to invest hundreds of millions of dollars into workforce development a

haidi: paul allen with the latest on csl.group, profit falling due to reduced activity across global markets. the veteran head of the division stepped down. profit at the annuity business fell. the firm said earnings for the nine months ending december 31 were substantially down on the previous year due in part two exceptionally strong results in that prior period. woodside energy remains open to additions when it comes to the lng business following a failed attempt to merge with santos, which would make it one of the biggest producers in the asia-pacific. they are not averse to deals with energy companies including aramco, which is diversifying into natural gas. trekking across broader markets, the laggards when it comes to trading in australia, we are seeing trading here flickering to the green when it comes to sydney, up by 0.1%. a muted handover from the wall street session. s&p 500 running up against the wall after starting a new record friday. that was muted ahead of the key u.s. cpi reading. some gains by financials, u

paul allen explains what is at stake. has been a challenging few years for australian winemaker's. china slapped tariffs of up to 200% on aussie wins in 2020 and left of the industry scrambling to find new markets. >> we lost everything overnight. paul: when austria called for an international investigation into the origins of covid-19, china responded with a range of trade strikes against australian products. the relationship has since thought. -- thawed. australian suspended its appeal at the world trade and eight -- when china announced a five-month review. that review ends march 31. australia's trade minister will meet his chinese counterpart on the sidelines of the wto meeting in abu dhabi. >> we want the tariffs on australian wine removed and if we don't get that we will resume the wto application asap. our agreement to suspend the deal wto process was based on the successful removal of all of the tariffs. paul: shares in australia's treasury wine estates has slowly recovered since china imposed the tariffs in novem

paul: and i am paul allen.ig tech drugs wall street away from all-time highs as investors await nvidia's earnings. triggers starting to speculate whether the fed's next move is a hike, not a cut. haidi: we and will works are among several companies reporting this week. paul: u.s. warning allies that russia could deploy a nuclear weapon into space as early as this year. let's look at what is happening in the markets, we have just opened for trade in australia. early going. scattered open. we are off by 0.25%. we will be watching a lot of stocks today. woolworths was out with earnings. the ceo is going to retire. he didn't have a great experience on local media this week, we will talk about that later. rio tinto is one to watch as well, impacted by falling iron or prices. national australia bank had a trading update. although stocks are somehow dumb. we haven't got -- all those stocks are somehow down. the aussie dollar at $.65 u.s.. let's see what we have in terms of nikkei futures. we are keeping a night on rin

paul allen taylor? do i know him? yes.h he reached out to me through email when he found out who i was. okay so you do know him? yeah i know him. yes. okay and so could you just repeat how you first got connected with him? i received an email regarding a campaign. uh, they know that our asian pac supports asian candidates. yes, and he wanted us to look at an asian candidate . okay. and did he mention who that candidate was at that time? he mentioned her name. ellen. liesel okay. and what how did you respond to his request? we're from southern cal. i'm not real familiar with the northern cal candidates. and races. i. i really didn't know anything about her. okay. uh, and did afpak have money to spend on a race in the bay area? uh, no, we didn't at the time. um so we weren't really interested in, in this race. okay. did you communicate that to mr. taylor? yes and i think what was communicated was that he had a donor that would donate on behalf of the candidate. so that's why he thought it would be good for us to be involved,

i am paul allen.

that was paul allen in sydney. let's look at some other geopolitical stories.resident biden said he is still hopeful for a temporary pause in fighting between israel and hamas but it is unlikely to start by monday as the originally stated. the white house said biden spoke to leaders of qatar and egypt that are working to moderate cease fire talks. the agreement calls for a six-week pause in fighting to allow for the release of hostages and prisoners and to get aid into gaza. dozens of palestinians have been killed or injured in the shooting near a convoy of food trucks in northern gaza. the associated press cites hospital officials who say -- israel has denied his forces were part of the shooting but said the incident is under review. president biden said it threatens to setback efforts to negotiate that cease fire. russian president vladimir putin has warned nato risks triggering a nuclear war if it sends troops to ukraine. he made the comment in his annual address to an assembly of lawmakers and officials. french president emmanuel macron has refused to rule

annabelle: all right, that was paul allen.rade minister says the economy will feel the impact of slower local growth and the turmoil in the red sea. >> it always concerns us when growth is undershooting what people are forecasting what they want. higher growth need means greater prosperity, greater tax revenues for governments. there are strong reasons why we want local growth to recover. that is why the u.k. for example is taking strong action in the red sea in concert with our allies, to make sure trade continues to flow and that the world does not suffer unduly from events in the middle east. >> you did mention developing countries should benefit as much as richer nations and that this particular conference has been about that. what about the digital goods tariff moratorium? >> this is essential for the wto. this would be really going backwards for it not to be renewed. this would mean that there would suddenly be the potential for customs duties on anything from netflix through to potentially anything that could be transmi

paul allen of bloomberg. haidi: look at how we are tracking the fx side of things.ig week of eco-, potentially. quite a lot of direction to be set when it comes to what we see for the u.s. dollar in particular given we have the first preferred gauge of inflation coming through. that would possibly add to the narrative we are seeing not just from fed speakers talking about caution when it comes to maintaining the fight against inflation, but what we have seen with inflation numbers out of the u.s. coming in hotter than expected. the dollar rally looks pretty tepid at this point. the first weekly decline of the year last week it to matched. it was comments from fed speakers on the timing to stop reductions that weighed heavily. we sought out performers in this part of the world including the kiwi dollar and the aussie dollar at this point maintaining a little bit of resilience. dollar china looking steady. dollar-yen is the one to watch. 15051 is where we are. some of that volatility is starting to fall. we have, again, the dueling force curbing trading range we have

paul: and i am paul allen. and it created sparked by nvidia's bullish outlook seems markets. the s&p 500 marking its 12th record close this year. haidi: the bed and admit that to be looking into nippon steel's china assets of its deal to acquire american rival u.s. steel. folly: filing for an ipo is raided after two years on the sidelines. haidi: let's look at how asian markets are starting the trading day. we are watching for the final friday for a good in terms of major u.s. stock indices hitting records. it was the nvidia play rekindling the ai rally. sydney stocks coming online in that staggered open. 0.2 percent higher. we will be watching the tech stocks in particular throughout the course of the trading day. . i should mention though tokyo is not trading today so perhaps we will see some catch up next week given how heavily dominated some of those chip tech and ai related stocks are in that market. aussie dollar at $.61, pretty steady. those bullish dollar bets have started to drop in particular, against some of these china proxy-type which is against australian dollar

. ♪ embarking on most ambitious chip development program and concerns of supply chain and paul allenundations are being laid for the revival of a industry japan. there will be an advanced chip macking. and chip manufacturers concentrated in a handful of countries. >> there are few factors. to survive as a nation, japan has to be a main player and demonstrate with semiconductors. >> u.s. is encouraging allies to limit the risk of overreliance on china. >> between the risk of china and taiwan. we are building a large factory and that is increasing. >> they have been operating for some time and the longer term vision is to build the version of silicone valley. the largest chip maker has a $7 billion gearing up for production and another one in the pipeline and powering $28 billion with the city experiencing a property boom as a result. >> companies and manufacturers have been heading overseas and seeing the return to japan. this is exactly the kind of business development that will give young people different choices. >> japan has a shortage of workers to move in once construction cruis

thank you to my guest, paul cox and steve allen. back tomorrow 11 allen.pm. with some other people. see you then. and if you're watching, uh, 5 stay watching, uh, at 5 am, stay tuned for breakfast and coming up tom harwood up after the break. tom harwood tom taking you tom harwood will be taking you through tonight's by—election results. what's in store? >> it was meant to be so >> tom, it was meant to be so predictable . a presumed safe predictable. a presumed safe labour seat was meant to be sealed up . but then two twin sealed up. but then two twin d disturbances in what could have been a very predictable by—election. first, of course, the war in gaza. and second, the disowning of the labour party's own candidate is thrown the night wide open. george galloway is already claiming victory here, standing against the labour party, standing against the other parties, but also reform uk has simon danczuk, the former rochdale mp , standing as former rochdale mp, standing as their candidate. could he have a look in two? it's to all play for in the most unpredic

allen and angela. thank you so much for joining us with this conversation . venezuela. leah paul though lopez and opposition leaders, cherry, a 14 year prison sentence on charges which a former prosecutor says was fabricated for the current government in taiwan for present century beyond was jailed for corruption charges after his party last political power. 2008. a gusto peter shay assume the power after you let a coo and 1973 and arrested all of his political opponents and as well. the current president of egypt has been accused of orchestrating a crew which led to the rest of the sentencing to former president mohammed morsey, who was democratically elected. but as god come as in matthew, you hypocrite 1st take the log out of your own eye and then you will see clearly to take a speck out of your neighbors. i following candidate trumps comments during a 2016 presidential bait that he would have hillary clinton investigate, arrested if he was like the president, democrats and republicans alike were quick to point out. even the attorney general underneath richard nixon resigned when he was ordered to invest