paul.he said something about he's the best lever i've ever had. i'm like, well, this is the first thing out of your mouth. that shocked me. >> then, her people weren't all that thrilled with a young hot shot pharmaceutical exec either. stacey's brother, at, what did you think? >> i thought he was arrogant, and reasonably. obnoxious, but i was admiring him. >> so, both families bit their tongues and crossed their fingers as the to walk down the aisle in may 1999, after meeting only once before. the wedding was a lavish to do, held on a yacht in new york harbor. >> she got pregnant raided the honeymoon, pretty much blocking paul down. >> that would have been fine, says brother, john, except paul suddenly found himself settled with another much hungrier mouth to feed. stacey's father, ed, retired military man, was asking his new son in law to invest in various business schemes. >> paul's fellow pharmacist and best pell, michael hurts, trying to give him some advice. >> i told him, be careful.

. ♪ ♪ paul: welcome to the "journal editorial report," i'm paul gigot.emaining presidential candidates are making hair closing arguments in new hampshire ahead of that state's first in the nation primary on tuesday with recent polls showing nikki haley in second place behind donald trump and ron desantis coming in a distant third. the former president is stepping up his attacks on haley as he looks to build on his win in iowa with a knockout blow in the granite state. here are trump and haley trading fire this week. >> the people behind nikki haley are pro-name testy, they're pro-china, their pro-open borders. don't kid yourself. pro-war and they're pro-biden. >> we don't want more of the same with the trump-biden thing. we don't want more 80-year-olds in d.c. we don't want for the -- more of the same where both of them are distracted by investigations and all these other things. paul: joining the panel, columnists dan dan henninger kim strassel andtorial board member kyle peat person. so, dan -- peterson. dan, let's start with the tit for tat in new ham

paul: welcome to the "journal editorial report." i'm paul gigot.ald trump notched another victory on tuesday with a comfortable win over nikki haley in the new hampshire if primary. and now the former south carolina governor is facing growing pressure from mr. trump and his allies to drop out of the race with the former president threatening to blacklist haley donors if they continue to give to her presidential campaign. but haley is vowing the fight on, hoping to make a comeback in her home state next month. >> now, you've all heard the chatter among the political class. they're falling all over themselves saying this race is over. [cheers and applause] well, i have news for all of them. new hampshire is first in the nation, it is not the last in the nation. [cheers and applause] paul: joining the panel this week, "wall street journal" columnists dan henninger, kim stras thing and bill mcgurn. so, dan, do you think that nikki haley has earned the right to stay in the race? >> yes, i do. she did well enough in new hampshire, she didn't get beaten b

paul: absolutely.ou would not know that debate that they were 35 points behind donald trump who was doing his own town hall while these two spent two hours beating up on one another. trump won the debate and it speaks to his strategy of avoiding the debate altogether. it seems in hindsight to have been the right call. when someone like nikki haley does engage trump, the way she does it is not effective. she kept saying we need generational change, vote for me because we need a generational change, she should say vote for me because it's not wide for the republican party to nominate someone who could be a convicted felon on election day. >> desantis did say that at least in 1/2 sentence or so. you agree with jason about that strategy? i want to ask about haley in particular. her strategy has been to form a coalition including those who don't want to vote for trump but are getable who say i like trump but we need a new star and that seems to be to some extent. >> it is working in new hampshire if the pol

paul: welcome to the journal editorial report. as 2,024 presidential election year begins president biden's support among key voting ruse is slipping with the new suffolk university usa today poll showing the president drawing only 63% support from black voters down from 87% in 2020. donald trump now leading among hispanic voters and younger people in the same poll, the biden campaign hopes to turn those numbers around by attacking mr. trump as a threat to democracy, the president marking the third anniversary of the january 6th assault on the us capital with a speech in valley forge, pennsylvania, the release of his first television ad of the 2024 campaign. >> president biden: there is something dangerous happening in america. there's an extremist movement that does not share the basic beliefs in our democracy. all of us are being asked right now, what will we do to maintain our democracy? paul: doug shown was an advisor to president clinton and the presidential campaign of michael bloomberg. welcome. look at these polls, it look

— take on that, paul? i think it's auoin take on that, paul?ficult because he certainly— going to be difficult because he certainly made it really worrying noises _ certainly made it really worrying noises about nato, reducing funds. the rest _ noises about nato, reducing funds. the rest of— noises about nato, reducing funds. the rest of europe has to step up to the plate _ the rest of europe has to step up to the plate and pay its fair share as membership of nato. the only winner would _ membership of nato. the only winner would be, _ membership of nato. the only winner would be, to— membership of nato. the only winner would be, to be honest, would beat putin— would be, to be honest, would beat putin from — would be, to be honest, would beat putin from a — would be, to be honest, would beat putin from a trump presidency when it comes _ putin from a trump presidency when it comes to— putin from a trump presidency when it comes to nato. he has frequently dissed _ it comes to nato. he has frequently dissed it— it comes to nato. he has frequently

paul: bloomberg's su keenan there.ade here in australia today, close for the public holiday, it is australia day. new zealand trading a little softer to the tune of .5%. strip out energy and fresh food, we might learn a little more on the boj's inflation expectations when we get the minutes from that last meeting out in about eight minutes time. plenty more to come on "daybreak: australia." this is bloomberg. ♪ payroll compliance, for sure. gusto automatically calculates and files my taxes for me. hold up, compliance? easier? choose payroll compliance without the ups and downs. you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh paul: bloomberg has learned that russian president vladimir putin is using back channels with the u.s. to test the waters for talks on ending the war in ukraine. let's go to washington and gregory white. any sign that this outreach from putin suggests a genuine desire for some sort of deal to end the war? or could there be another possible motivation

paul: what is the outlook?ng publicly , the idea you can buy in at the market cap or perhaps lower, that's a good opportunity financially. they know that sounds a strong signal of competence. if you are buying in like this, send a signal. the prospects are quite strong. it's been pulled back and tamed with a strong strategic positions. paul: bloomberg executive editor. that's just about it. futures are trading. funding to prop up and stabilize chinese stocks. stay tuned for our special coverage, next. [speaking chinese] ♪ c'mon, we're right there. c'mon baby. it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you get used to it. try these. they're noise cancelling earmuffs. i stole them from an airport. it's always something with you, man. great! solid! -greek salad? exactly! don't delay the game with t-mobile 5g home internet. catch it on the xfinity 10g network. ♪ >>

cillian murphy and _ paul giamatti as well? cillian murphy and paul _ paul giamatti as well? cillian - murphy and paul giamatti cosmic to lose between them. cillian won the belt in bow, paul giamatti won in the comedy side but paul surprised and won at the critics' choice awards, and we have the baftas coming up where i think cillian will be a favourite. i think it will be a neck and neck race all the way to oscars night. i would also add cillian murphy and paul giamatti have long histories as character actors, supporting roles and for both of them to have these sort of greater starring vehicles can obviously paul is starting things like sideways before that but even that was a two hander. him taking the lead on this film and being the thing that has rallied around it is great for his career and if he doesn't get that in and out endorsement i don't know what we'll do. i don't know if you saw that over there but it was a big deal to seem at the golden globes right afterwards with the statue. so much to look forward _ afterwards with the statue. so much to look forward to _ aft

[laughter] annabelle: that's right, paul. the other story is the amount of gains we have seen in u.s. stocks over the course of this year. the s&p 500, crossing that 4900 mark in the prior session. a record high for the u.s. benchmark. the nasdaq, getting as much of 1% ahead of key earnings this week from alphabet, amazon, meta, microsoft and more. a really big few days ahead for that market. a lot of investors focused on those numbers. the data with the jobs report. but the move today focuses on the action in the bond space. u.s. treasury, surprising traders. it came down to it cutting its borrowing estimate to $760 billion -- quarterly borrowing estimate to $760 billion. paul: let's bring in our mlive contributor, garfield reynolds, here in sydney. we have seen yields declining. what part of the curve is looking more vulnerable here? >> the short end, because this has really emphasized -- this was one of the three big risks for bonds coming into this week. this one turned out not to be a risk. we didn't get the increase in

paul: all right. paul dubs and their -- dobson in singapore. some stocks moving in australia. off, the iron ore fortescue metals with the second order iron ore shipments higher quarter on quarter, but falling 2% on quarter from a year earlier, fortescue sang demand remain strong for iron ore. shares rising 2% at the moment. we heard from santos with its quarterly production numbers, maintaining 2024 outlook between 84 and 90 million barrels of oil equivalent and production 23 .4 million barrels equivalent was slightly higher in the third quarter coming into the fourth. shares rising slightly. materials doing well on the broader asx with the market her by .25%. bloomberg users can interact using gtv to browse recent charts featured on bloomberg tv. you can also catch up on key analysis and save those charts for future reference. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh annabelle: you are watching daybreak asia. taking a look at sk hynix. it is recovering so

paul: let's talk more about that. fed decision this week, no one is expecting any movement from their rate, you just talked about expectations around march getting scaled back as well. but in terms of the timing and also the number of cuts, have you changed your expectations? brooke: we have been in the camp that it is going to be higher-for-longer. we would expect the first rate cut to come in may or june and, may be three rate cuts this year. again, investors were expecting rate cuts to start early in the year and potentially six or seven rate cuts through the year. we don't think that will be the case. if the labor market remains very strong, we think the fed will be patient. the fed was predicting 4.1% unemployment rate in 2024 and if we stay below that number, there is no urgency to start cutting rates. paul: the data has looked pretty strong out of the u.s. how comfortable would you be in saying that the recession risk is now all but gone? brooke: we think -- we think a significant impact to the economy is off t

paul: the chief china strategist . let's turn back to samsung if we can and look at how shares are tracking at the moment, off about .6% in the early going. this is after the company posted its fourth straight quarter of profit decline for the holiday quarter. for more on these fourth-quarter results, the numbers look pretty good, what are your key takeaways so far? >> i think it looks like a handy beat, but a lot of that came from a tax credit, potentially a one-time tax credit. once you strip that out, it is more or less in line and maybe looks a little weak. if you drill down deeper into the numbers you will see that the chip division, the one everybody is watching, actually had a higher than expected loss, and that is weighing on the shares a little bit. i think the real action will start in a little while when the executives brief analyst on the post numbers conference call and that's when they will talk about the outlook for the market and their own plans to catch up in ai and so on. annabelle: what do we want to

paul: i'm paul allen in sydney.sian stocks are facing headwinds after wall street's worst fed day in almost a year with big tech leading the rosters and jay powell hosing down hopes of interest rates rising next month. >> i do not think it is likely the company will identify march as the time to do that. it remains to be seen. paul: qualcomm falling after the day as the top supplier of smartphone processes warns inventory remains bloated. boeing earnings beat expectations and the ceo dave calhoun publicly admits responsibility for the alaska air panel blowout. let's look at how we are tracking in australia. we have a staggered open with modest declines. we had a record high on the asx 200. it will be short-lived. we can think jay powell and the fed for that. we are backing off those highs as we speak. yields falling across the curve in the bond space. the yield on the aussie tenure now 3.9566. not a tremendous surprise. we saw u.s. equities falling off the back of the fed press conference as well. the aussie dollar

paul: welcome to "daybreak australia." i'm paul allen in sydney where marcus had just come online. annabelle: in hong kong, we are counting down to asia's major opens this hour. revenue from alphabet's core search business disciplines, as does microsoft's cloud growth and amg's forecast. analysts awaiting a turnaround in the memory and smartphone markets. and president biden says he has decided on a possible response to a deadly attack on u.s. troops, repeating that he does not want a wider middle east war. paul: let us start with some breaking news out of south korea . first, industrial production numbers for the month of december. some pretty heavy beats as well. the market expectation was for a pretty tepid .1%. bit of a slowdown from what we saw in november, but still a hefty beat. big beat for south korea industrial production in the month of december. let's take a look. how we are trading in australia. we just opened a few moments ago. currently we are off by a few points. we have a staggered open, but is today the day? we got within two points of setting a record on the tsx,

did you have any belief that paul was doing anything like this? did you have any signs other than what may have passed between him and why it's confidential? is bishop oh, now when a child is abused, there are laws in the us that say people entrusted professions have to reported to authorities. ready but when it comes to clergy or religious officials, sometimes the law allows for abuse to stay secrets in the name of religious freedom . the idea of a higher power and salvation intervene more to this world than just start day to day has essentially been perverted in this fashion. that the salvation of an individual matters more than the salvation of the vic. to keep the child abuse a secret is what makes the church complicit. the spreading growth of child abuse the in here of my keep 6 family photos that i have left from when i was at your home is with me about this one was probably 14. it was just before, just before what was your mindset like before it happened versus after there was that change of being carefree and the world was safe. you know,

paul: our china economy editor.'s bring in the managing director at orient capital research, andrew collier. we just had jill talking about policy efforts to put a floor under the stock markets. the msci and the hang seng have gained in the last few days but is it enough? andrew: i don't think the rally will be durable. you have monetary easing, bond issuance and rate interest cuts. and then you have an odd rumor of a 2 trillion yuan injection into the stock market by state owned entities, which has not been officially uttered. you have a chinese official making statements at a high level about their intentions for the future. i'm seeing a lot of symbolic gestures. monetary easing is significant and i would agree with that. we have had three years of crackdown in the property sector and this is the earlier part of larger stimulus. but the government has been reluctant to open the floodgates because they are worried about more bad money going to local governments in the property sector. the whole thing about the two

paul: all right. paul dobson there. a new poll suggests donald trump gained most from the exit of ron desantis from the republican presidential race, opening a 22-point lead over nikki haley. voting is underway in new hampshire's primary where nikki haley is the last major challenger between the former president and the publican party's nomination. jodi schneider joins us now from new hampshire. why is it so significant and how unusual is it for this to be effectively a two-person brace at such an early stage? jody: yeah, very unusual to be a two-person race. the last time there were about 10 people in it at this stage, so nikki haley said she wanted a two-person brace and is getting a two-person rate but with the challenger like donald trump it is an uphill fight for her. we heard today that reports of strong turnout, particularly among moderate and independent-minded voters, which will help her, because those of the voters she appeals to. she also appeals to voters who did not want to vote for donald trump. we will se

paul: we have seen the u.s.r or the bloomberg dollar spot index depreciating sharply so far in january. what impact is this going to have on emerging asia? >> the dollar index obviously has a negative correlation with all risky assets. that is definitely in play. the broad set up for not just equities but risk assets across the world is whether the u.s. is going to see a soft landing on the back of the aggressive rate cuts by the fed. that narrative is at play. if you look where the u.s. market is, expectations of cooler inflation have taken some of the gauges to record highs. look where the msci emi's china is. there are more bulls in the camp who are hopeful of the off landing narrative would prevail sooner than later. keeping an eye on dollar index. at this point from what we are getting from our reporting, from what you have seen in terms of market positions signaling, it does look like it will not be a big threat for risk assets including asia emerging markets. annabelle: something we are seeing playing out

nick paul. he achieve something? nick paul.e he's going to have a huge a huge majority in the thing. he's going to have all of his team, even if he doesn't get all the ducks row, they're still ducks in a row, they're still going to be quacking. starmer's to going to pluck the to he's going to pluck the chickens. the end chickens. and it's not the end of yet. of the day yet. >> is it is chaos in the >> well it is it is chaos in the tories nick can benefit from that. and did you this joke that. and did you see this joke about clarke that he's about simon clarke that he's a he's six seven. they he's six foot seven. so they said sunak has survived the knife the night. that's said sunak has survived the knife clever. night. that's said sunak has survived the knife clever. that'sght. that's said sunak has survived the knife clever. that's fairlyhat's pretty clever. that's fairly clever but yeah, i mean clever stuff. but yeah, i mean they're chaos. and yeah, they're in chaos. and yeah, starmer has to get it ready for they have have al

paul: i want to come back to that ai issue in a moment.he central banks had a lot of strong data out of the u.s. recently, markets continuing to push higher. does the economy really need these rate cuts? are we in a situation where we could use good news again? >> if you look at the gp -- gdp now, they are asking for fourth-quarter gdp is 4% annualized. that is a far cry of where the central bank normally is when they are feeling like it is time for them to cut rates. add that to the cpi, the uptick that we saw, we see .3% month over month for december, then we have 3.4% annualized. you have a slight cpi take up. we understand that. when you have cpi ticking up and 2.4 percent annualized gdp growth and inflation-adjusted and you have retail sales in december, until you get some kind of massive economic weakness showing, it will be really hard for the fed to be a head -- to be ahead of the world cutting rates. christopher waller came out and said these are not the conditions under which the fed are losing and stimulates that fed funds rate

paul >> okay, well, i'll buy that. paul, i'm happy. i don't care as long as they die.are how they die. >> wasn't expecting >> i wasn't expecting this, uh, debate to come to down the method. yeah, uh, of which is used. know what they do used. but, you know what they do do every now and again do polling every now and again on punishment . and i on capital punishment. and i think comes down to about think it comes down to about half, does in this half, half it does in this country. it does. >> you look at the political >> if you look at the political establishment parliament, >> if you look at the political establnot1ent parliament, >> if you look at the political establnot reflected parliament, >> if you look at the political establnot reflected at �*liament, >> if you look at the political establnot reflected at allnent, >> if you look at the political establnot reflected at all in 1t, that's not reflected at all in the national debate. there's never really a national dup. >> i don't like it at all because i don't like the idea of eye for an eye. and revenge and because

and to give an official welcome to city hall, we will have paul miyamoto and paul henderson. first up, sheriff paul miyamoto. [applause] >> thank you president soo. good morning everyone. if we could have a turn-out like this at our board meetings, i will be very happy if that is what you accomplish, terry. want to acknowledge everybody presence. thank you for all being here. it is important to continue that sort of engagement and our office actually very much looks forward working hand in hand with our new inspector general. one thing very important to understand, this supports our shared goals, our shared vision. t nojust with the sheriff office and oversight bored and your mission as the inspector general, but with the community at large. transparency, accountability, continuous improvement, those are the goals we hope to achieve and reach and continue to reach to and with your 33 years of experience in al meady county at the district attorney office that represent immense amounts of experience and knowledge which we are very confident will represent fair and impartial app

paul. for the speech aligned well. paul, urse or for the speech aligned well.was talking _ for the speech aligned well. paul, purse or was talking there - for the speech aligned well. paul, purse or was talking there about generations, of course, donald trump, 77 butjoe biden, if you want. trump, 77 but joe biden, if you want. , ., , ., trump, 77 but joe biden, if you want. , ., y., ., trump, 77 but joe biden, if you want. , ., ., ., want. yes, and you have to really old au s want. yes, and you have to really old guys who _ want. yes, and you have to really old guys who are _ want. yes, and you have to really old guys who are slugging - want. yes, and you have to really old guys who are slugging it - want. yes, and you have to really old guys who are slugging it out, | old guys who are slugging it out, though— old guys who are slugging it out, though to — old guys who are slugging it out, though to be feared to trump, he certainly— though to be feared to trump, he certainly doesn't look his age, while — certainly doesn't look his age, while biden looks his age.

paul: su keenan there. chip equipment asml says they are seeing positive signs in sale growth after orders more than tripled last quarter. the ceo told us more about the outlook for china as washington pushes for export ends to hobble beijing's tech ambitions. >> 90% of ambitions in china have to do with technology. that's the technology we need for all the major transitions. energy transition, electrical vehicle transitions, digitization, rollout of the smart grid. that's where the masses are. so what is your message to those in washington and in the hague who are pushing to expand those restrictions beyond the most cutting edge lithography machines, and expand restrictions on the sale of lithography to china? >> i have full respect for national security concerns, that's not the point. we need to take into consideration the chip industry has created an almost seamless industry across the world with massive advantages in terms of innovation and cost production. from an economic point of view, we need to mak

paul: stephen engle there.ll get more insights on china's property market in a few minutes and hear why ubs is starting to change its view on the embattled sector. plenty more to come on "bloomberg daybreak: asia." this is bloomberg. ♪ paul: u.s. officials say president biden is seeking a response to the deadly attacks on u.s. forces and jordan. it is -- that is tough enough on iran and its proxies while avoiding a wider conflict. patrick ryder spoke with bloomberg earlier. >> we will take deliberate, appropriate action. our focus is not to broaden the conflict. from the very beginning, we've been focused on ensuring the situation in israel does not broaden into a wider regional conflict. what you have are iranian proxy groups exploiting the situation, conducting these types of illegal attacks against forces in the region to preserve peace and stability. we are going to do what we need to do to protect our forces will also cognizant of the fact that we don't want a wider regional conflict. >> who were the perpe

the piece only stopped at least 6 years after paul confessed official parent when a video paul had made of the abuse was found in a police investigation across the world. there is a file on a computer in new zealand, and we make an arrest. thousands and thousands of miles away and stop the victimization. facial recognition identified pulled on the video and he was arrested in 2017. but while he was awaiting trial, he died by suicide. since then, the county has been looking into the churches role and keeping the abuse secret. starting with the 1st bishop, she did what his church compels to do. that says hey, you know, i've disclosed it to them. they are the people that know and now they're telling me on the phone and you can't say do your best to manage, which is unfortunately, frankly, to me. what directly led to the continued churches said and statements before that they were adhering to arizona law by not reporting the abuse. does that accurate it's complete and utter crap? because the helpline and was told she couldn't disclose it because get sued because these are confidential commu

and to give an official welcome to city hall, we will have paul miyamoto and paul henderson. first up, sheriff paul miyamoto. [applause] >> thank you president soo. good morning everyone. if we could have a turn-out like this at our board meetings, i will be very happy if that is what you accomplish, terry. want to acknowledge everybody presence. thank you for all being here. it is important to continue that sort of engagement and our office actually very much looks forward working hand in hand with our new inspector general. one thing very important to understand, this supports our shared goals, our shared vision. t nojust with the sheriff office and oversight bored and your mission as the inspector general, but with the community at large. transparency, accountability, continuous improvement, those are the goals we hope to achieve and reach and continue to reach to and with your 33 years of experience in al meady county at the district attorney office that represent immense amounts of experience and knowledge which we are very confident will represent fair and impartial app

they're going to join us. >> paul. >> lovely paul. >> lovely paul. >> now why have >> thank you.

and, uh, what do you this, paul? you make of this, paul? she's quite entitled for mean, who for a start. i mean, who who writes tweet tell to tell writes a tweet to tell to tell somebody unfollowed writes a tweet to tell to tell somebi dy unfollowed writes a tweet to tell to tell somebi mean, unfollowed writes a tweet to tell to tell somebi mean, what'sollowed writes a tweet to tell to tell somebi mean, what's the wed writes a tweet to tell to tell somebi mean, what's the point writes a tweet to tell to tell so that? mean, what's the point in that? >> it's really. >> it's really. >> that's ridiculous. i mean, i think doctor shoulder has become a satirical, um, caricature of herself. she'll say any old herself. now she'll say any old nonsense to garner attention, knowing full well she's untouchable because she remains untouchable because she remains untouchable for all the reasons . untouchable for all the reasons. >> honorary doctorate by newcastle. >> well, which, you know, i mean, lots of people have. yeah. which ridiculous . but which i

anyway, paul.understandably rushing forward to be the toby jones led to be the next toby jones led itv drama to drive government compensation programs. yes, indeed. compensation programs. yes, indeed . so rishi sunak must now indeed. so rishi sunak must now compensate the infected blood scandal victims politicians demand. so after the prime minister paved the way for hundreds of postmasters wrongly prosecuted by the post office to receive compensation , he has receive compensation, he has been told to roll out compensation to victims of the infected blood scandal. so look, whilst i completely agree, by the way , they the infected blood the way, they the infected blood scandal was a huge story in the 70s and 80s, they have been compensated to directly or their partners have been compensated up to about £100,000. i should say . so. it's like they say. so. it's not like they haven't compensated, but haven't been compensated, but and that and i fully support that compensation as much as i fully support

caller: yeah, good morning, paul.or being on and stay warm. bi just want some specifics. can you tell me of the democrats,■n they are listed on the ballot. dean phillips, -- is cornell west on the ballot? thankou. guest: they are not on the ballot, west and stein -- west is now an independent candidate and is running on the green party. this is a democratic primary. they will come into play in the general election, but this is a prary process so they will not be on the democratic primary ballot. dean williams will be, marion williams will be. whose name will not be on the democratic pallet? president biden. he did not register up here. as we talked about. there is a big write in campaign that top democrats in the state are supporting to try tothe lasn though this is an unsanctioned primary, the last thing a lot of democrats one is for biden to suffer embarrassment here. i spoke to phillips yesterday, he thinks he can surprise and do well here. i think he is looking to finish inhe double digi. he feels that will give h

paul: gary fallon in tokyo.corporate stories we're tracking today, bloomberg is learned to credit is being considered a valuation of $5 billion in its ipo. that is the view firm earlier meetings with investors. we talked deliberations around the timing and pricing of an ipo that are ongoing. ftx is unloading crypto assets and hoarding cash as they look to repay investors. the group doubled its cash pile to $4.4 billion. ftx is looking at options to potentially restart its crypto exchange. annabelle: sources say the rest is aiming to announce major table grants -- ship grants. the awards are the degree to intel as well as foreign firms like tsmc. money from a $39 billion bill president biden signed into law more than a year ago is been slowed to trickle out with only two small grandson on so far. intel's el is trying to reinsure -- reassure investors of company is on track to make a comeback. shares tumbling more than three years. gelsinger told us the market reaction went too far. >> we finished a great year. 24

paul, do you want to tackle that? >> i am happy to start. am looking forward to what don has to say. it's a delight to be here. it is a delight to be here with you, linda, who has covered the court so ably for 30 years and continue to make remarks about the court from time to time. it is a particular pleasure to be here with don who i have argued with and against. i can say, i greatly prefer to argue with don on my side. this will be great fun. i would say that voting and democracy cases probably have something in common in my mind also with separation of powers cases. i have been privileged to argue a few of them. in a sense, it is the perfect idea that we are here as guests of the constitution group. these are constitutional law under the most basic sense. they are like, how do we constitute ourselves as a republic, a democracy, some combination of the two? where are the lines? how much is a pure marker see? how much is a republic? these cases to me just have an interest level that exceeds other cases. it contrasts most obviously with busi

host: go ahead, paul.uest: we have seen in history -- it is very tough to beat an incumbent president running for a second term. there have been times where that incumbent has faced some tough to 1980, democratic president jimmy carter. there were tough times in the country. i was a younger person back then, but i remember those days. he had a fierce primary challenge from then senator ted kennedy of massachusetts, george herbert walker bush in 1992 running for reelection. pat buchanan gave him aap run for their money. we have seen this -- the last two cycles, donald trump did get primary challenged in 2020 on the were public inside. former massachusetts governor william wells 7% of the vote in new hampshire but trump was the overall choice for that renomination. here we are four years later and biden is--you look the clear favorite to win renomination but is facing primary challenges. dean phillips, the congressman from maryland -- from minnesota marianne williamson, those are the top two candidates. hoee

>> paul, any resolutions from you?resolution for 2024 is to see 2025, and not beat myself up too much when all my other resolutions fail, because they inevitably do. i have a lot of the same resolutions as you. will go south by tomorrow. >> that's why i don't settle. you? >> my husband is a much better than me in the kitchen. i was like, it's getting embarrassing now in my family recognizes it. that's a problem. so i'm going to learn how to cook. i don't know. >> like ratatouille. "anyone can cook!" >> i say own it. set the bar low and that way, if you start to make a meal every once in a while, they'll be like, "oh, my god, she can cook!" that's it. happy new year, everybody. and for you at home, thanks for everyone watching the special edition has "outnumbered." happy new year. >> a m

>> paul.ways, not nationalised railways, did not work before. are these railways working constituents? work before. are these railways working did constituents? work before. are these railways working did sayistituents? work before. are these railways working did say yourents? it's my. did you say your constituents there's constituents that there's investment the investment going into the railways ? railways? >> yeah they are i mean, one of the things that i say the things that i would say i find it very interesting that the after the labour party, a day after rail let's accept the rail strikes, let's accept the unions many of the unions pay for many of the labour to and also labour mps to be here and also pay labour mps to be here and also pay the labour party to go pay for the labour party to go into the next general election. they condemned rail they haven't condemned the rail strikes they haven't condemned the rail striiconstituents get , whose my constituents to get, whose government has

paul, back to you. paul: thank you very much. have more insights from goldman sachs global macro conference throughout the day on bloomberg tv. you can catch these interviews in the coming hours. ceo of the singapore exchange and while says he is expecting more robust trading activity once global rates have normalized. he told us southeast asia's unicorn should consider coming to the market as conditions improve. >> southeast asia, 10 years ago we had few unicorns. today, southeast asia has 80 to 100 unicorns. and with market conditions more conducive, companies will come to the market. coupled with the fact that we do have a very effective success into asia. that allows participants to obviously trade the whole asia through the group. >> who do you think right now is your biggest rival? i know you are trying to get business from the hong kong stock exchange. what about here in london? has brexit changed the appetite for listing in the u.k., and can you take advantage of that? >> it is counterintuitive for the singapore exchange

um, paul . no welcome. this is extraordinary. um, paul. no it's not. welcome.raordinary. um, paul . no it's not. well, you um, paul. no it's not. well, you say it's not. oh, i think it is extraordinary. i mean, is this costing the taxpayer hundreds of millions of pounds ? more than millions of pounds? more than than it should do? is the population millions more? what do you think the population is? >> not millions more than we know about. but i mean, i'm somebody who gets a text every now and again on my mobile phone from gp addressed to june , from my gp addressed to june, uh, inviting me in forjune. june a cervical smear. i just introduce you as paul. and the reason is we had somebody living in our house ten years ago. an au pair, um , who registered for au pair, um, who registered for nhs services ten years ago. for the months she was with the eight months she was with us, still seems to be the us, she still seems to be on the system. um, and she's still being even she lives being even though she now lives in germany, is in her mid 30s, being even though she

um, paul . no welcome. this is extraordinary. um, paul. no it's not. welcome.traordinary. um, paul . no it's not. well, you um, paul. no it's not. well, you say it's not. oh, i think it is extraordinary. i mean, is this costing the taxpayer hundreds of millions of pounds ? more than millions of pounds? more than than it should do? is the population millions more? what do you think the population is? >> not millions more than we know about. but i mean, i'm somebody who gets a text every now and again on my mobile phone from gp addressed to june , from my gp addressed to june, uh, inviting me in forjune. june a cervical smear. i just introduce you as paul. and the reason is we had somebody living in our house ten years ago. an au pair, um , who registered for au pair, um, who registered for nhs services ten years ago. for the months she was with the eight months she was with us, still seems to be the us, she still seems to be on the system. um, and she's still being even she lives being even though she now lives in germany, is in her mid 30s, being even though sh

. a man surprised, paul. on left supporting a sort of on the left supporting a sort of big slate top down. >> i'm the old left man. >> i'm the old left man. >> i'm the restriction of choice. if you can choice. look, i mean, if you can afford to go into supermarket afford to go into a supermarket and bit extra for a pepsi and pay a bit extra for a pepsi and pay a bit extra for a pepsi and coca cola, i think, you know, give everybody the choice. i think removing i mean, i don't think removing products and taking stuff off the shelves is answer. this products and taking stuff off th a shelves is answer. this products and taking stuff off th a she too is answer. this products and taking stuff off th a she too sort answer. this products and taking stuff off th a she too sort of answer. this products and taking stuff off th a she too sort of soviet'. this is a bit too sort of soviet esque for me. i like the idea of free choice, and it's up to the consumer what they want to buy and they don't want to buy. and what t

>> tv guru, paul, how can throw in snow?ally hard. >>> you know what's as cold as a buffalo playoff game? the golden state warriors. entered friday with a two-game losing streak. home fans even booed the dubs a few nights ago. so a win tonight in chicago, paramount. steve kerr and his 1996 championship team inducted into the bulls ring of honor. that ceremony came after chicago lit up golden state in the second quarter. bulls shot 18 of 23. they scored 45 points in the quarter and led 75-62 at the break. it's the third straight game the dubs have allowed 70 or more in the first half. but the warriors came out on fire in the second half. especially klay thompson as golden state started the third on a 25 to 9 run, took the lead. kuminga made his first eight shots off the bench, including the tough bucket to make it 100-92. he finished with 24 points. klay finished the game with 30. warriors out scored chicago 48-20 in the third and had a 15 point lead. but the bulls cut the deficit to six in the fourth. but then steph curry cl

paul: breaking downtown out of australia.bers from the national australia bank for the month of december. a bit of an improvement in business confidence rising seven points to negative one. we are still in contractionary territory. business conditions did slip by seven points to minus two. national australia bank's saying declining conditions led by manufacturing and construction. conditions remained weak in retail but elevated in the services sector. clear signs of further easing and import cost pressures in the month as well. an improvement in business confidence. business conditions slipping a little bit in december. got the aussie dollar trading at 65 three-quarter cents versus the greenback. paul: taking a look at what is happening in other currencies in asia. the japanese yen the one to be watching today. we have seen it weakening. . the worst performer so far this year. losing ground with a focus on the boj staying dovish. the decision is due in a couple hours. no change is expected to the negative interest rate nor to

paul, have to leave. >> no. paul, you have to leave. gb now. >> i studied a whoop. >> i was i studied a whoop. >> i was i studied a whoop. >> it was. well, was both. it >> it was. well, it was both. it was huge. when i was 15, i had like huge old ring, that like a huge old ring, but that was cool. like a huge old ring, but that wasaool. like a huge old ring, but that wasa huge old ring. okay, that's like a huge old ring, but that wasa we ge old ring. okay, that's like a huge old ring, but that wasa we ge 0 back g. okay, that's like a huge old ring, but that wasa we ge 0 back to. )kay, that's what we get back to. >> some news. >> some news. >> sorry. >> sorry. >> i hate to sound like andrew doyle or someone, but let's. should news? should we get back to the news? your channelling lady doyle beautifully. so we've got the council. you want to? well council. do you want to? well anything say on the anything else to say on the council i go? council or should i go? not really. >> other than. it's not a surprise, i am slightly surprise, but i am sligh