glencore has a lot of assets in africa. rio tinto really does not want a presence where these assets are. and that is a question that would need to be resolved and thirdly is the quality of all of their minds and assets. it has over 130 different minds and many of them line the third or fourth quartile in terms of quality which means every now and then they get shut down when there's a mining down cycle. rio tinto was only looking for tier one and two assets and that's really where these copper assets of glencore are. >> paul on some of the complexities of what could be one of the biggest deals -- the biggest deal in mining history. and scott bessent expressed full alignment with president trump's economic goals at his senate confirmation hearing. we will get more details next. and after the u.k. unveiled a plan to become a world leader in an eye, we will speak -- in ai, we will speak with the cofounder of a tech company. this is bloomberg. ♪ >> welcome back. chris waller says the u.s. could lower rates in the first half of

we are seeing glencore shares up 2.7%. rio tinto up 1.4%.et me give you further detail on that story . rio tinto and glencore held talks over what would have been the largest ever deal according to multiple media reports. the discussions took place in october, but did not end with a deal. the two companies both told cnbc they would not comment on market speculation. >>> coming up on the show, israel's security cabinet meets to vote on the cease-fire deal with hamas. we're live in tel aviv after this break. reaching your goals requires a well-rounded approach. but i do that. i read classics and contemporary. and when it comes to learning spanish. you memorized random phrases. try babbel with bite sized interactive lessons so you nail the basics. addictive games to build long term memory. award winning podcasts and an ai conversation partner for on demand, no stress speaking practice. start speaking today at babbel.com. ♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my

glenother glencore up 3%.. >>> moving back to the markets. the u.s. markets hit a pause button yesterday after christopher waller saying it is possible there could be three or four rate cuts this year if inflation continues to cool. let's bring in jay woods, chief strategist at global markets. jay, great to have you here. >> good morning. >> what is your word of the day? markets are on pace for a winning week. >> we're in limbo right now. this, to me, is more of a relief rally. we are waiting for the catalyst to take us above the 50-day moving verage and recent downturn or fade back. we had the nice run up after the election and it faded. let's see where we are. the catalyst could be a few things. fed policy. fed officials are all over the place. you mentioned waller with three or four cuts. that was a little aggressive. then you have the uncertainty of what the trump tariff policies are going to be. that's what traders are focused on most. doge. will that affect unemployment? the fed meeting next week. we are

early stage talks about a merger with glencore as early as last year.ould face multiple hurdles including antitrust scrutiny. nvidia's ceo will not be at donald trump's in operation on monday. there will be plenty of other high profile u.s. tech leaders including tim kerr, jeff bezos -- tim cook, jeff bezos, mark zuckerberg and elon musk. annmarie: they will be in washington, d.c., freezing with me. jonathan: china's economy -- new consumption fallen below pre-pandemic levels and inflation persisting for a second straight year. exports boosting that number big time. this is another story, together with a whole list of stories that, going into 2025, is dependent on policy out of d.c.. >> if it's about exports, tariffs will be a problem. if it's about exports and tariffs come in, what happens to europe? if they need to continue the story, the goods go somewhere else. in the u.s., a lot of manufacturers there front loaded things as well. it is happening on both sides. jonathan: up next, we talk trade and terror threats boosting the u.s. dollar. >> the amer

minerals giant glencore has held talks with the world's number two mining firm rio tinto, according totry. reuters says the talks are "no longer active". mining firms are jockeying for control of minerals such as copper, which will be vital to the clean energy transition. last year bhp failed to seal a $49 billion bid for rival anglo american. here in the uk, mobile, broadband and pay tv companies will no longer be allowed to give surprise price rises in the middle of a customer's contract as a regulator ban comes into effect. in new deals from today, before somebody agrees to a contract, providers must tell them "in pounds and pence" about any price rises, as well as when they will occur. but citizens advice said the move falls short of a full ban on prices rising mid—contract. former bank of canada and bank of england governor mark carney has announced he wants to be the next leader of canada's governing liberal party. if he wins, the 59—year—old will succeed prime minister justin trudeau and lead the country into the next general election, which will take place this year. stay with

have technology starting to look at deals even mining deal that we think is happening on journal glencorers in terms of m&aization what would you look for. >> i think regulatory, you know -- constraints around technology biggest limiting factor past few years we have concerns about monopolies large companies growing to disproportionate size we what happens whether a change in perspective is from ftc i think if you look at -- you know you mentioned mining but if you look at mining industrial sectors, related energy you know those are sectors where companies have you know, in general, you know, good earnings, strong free cash flow you know good stock prices meaning they have good medium of exchange to acquire other companies i suspect that is what we are going to continue to see. >> final question what do you want want to say to investors merrill lynch merely your clients about 2025 in terms of putting more than to work. i don't think a steady linear increase in risk assets, meaning, i think we are going to continue to see volatility, there is a lot of change that is occurring, globally and