haidi: let's get the vonnie quinn with the first word headlines. donesia central bank is signaling the current round of tightening is coming to an end as they look to wind down. they hiked to 25 basis points since august. speaking exclusively to bloomberg he says is efficient -- sufficient and sees a lower peak rate than predicted earlier. >> back then there are some of the view that we were going up to 6%. now, our assumption for the future is 5.25%. so, 5.25%. this is less certain now. compared to last year. vonnie: can't -- companies list to -- linked to an indian billionaire will be issuing a report. they labeled the hindenburg claim of manipulation and accounting fraud as bogus. they note that he is not addressed any substantial of issue he raised. chile central bank has cap the interest rates unchanged at the highest level in two decades. the country's for more signs that the inflation is consistently slowing. they see initial fx from the aggressive tightening cycle. the inflation rate is expected to remain above the 3% right -- target. global

let's get you to vonnie quinn with the first word headlines. : a former new york fed president says an economic recession is on the cards. he sees a quote -- slow down as likely. he told us the writ -- recession won't be severe, and he doesn't see a big risk of financial instability. >> what's different this time is, if we have a recession, it's going to be a fed-induced recession. in the fed can -- and the fed can end the recession. vonnie: the white house says there's no reason for china to retaliate against the u.s. and other countries. the press secretary says the moves are justified on health grounds. beijing has said it will hit back at nations imposing new rules, dismissing the measures as political. a general manager of the philippines main airport says flight delays may continue on wednesday, as they reel from a technical glitch that stranded 65,000 passengers. operations of the airport are expected to fully normalized by thursday. the airlines expect to take weeks to clear the backlog caused by the power failure. american football play

shery: let's get the vonnie quinn. shery: vonnie: ukraine has dismissed as a ploy vladimir putin's call for a 36 hour cease-fire. the kremlin says he gave it for a russian orthodox christmas. the ukrainian and u.s. presidents site vladimir putin merely wants a chance to redeploy his forces. >> i found it interesting he was ready to bomb hospitals and nurseries and churches on the 25th and new year's. i think he is just trying to find some oxygen. vonnie: kevin mccarthy has failed again to get vote for house speaker despite offering them a simpler way to oust him should he get the job. there is no immediate resolution in sight. kevin mccarthy is undergoing pressure to find the votes he needs or step aside. japan wants the group of seven to take a coordinated approach against what it calls china's economic coercion. japan is the rotating head of the g7 this year and will host the summit in may. the economy minister says china's recent growth and trade bands are clear and present danger for global economies. beijing has ac

let's get to vonnie quinn. ie: a range of bonds and shares tied to indian billionaire fell sharply. and to improve it is shorting links through derivatives and u.s. traded bonds. companies have lost $12 billion in market value. the u.s. market regulator is proposing a ban on wall street friends who issue asset securities. the sec's five commissioners voted unanimously to impose new conflicts of interest regulations for investment banks and others involved in securitizations. the new restrictions would not cover hedges against risk. europe's largest tech company expects u.s. export control measures against china to push beijing to develop its own advanced chipmaking machines. the ceo says export controls will create levels of disruption that will affect efficiency and innovation. the forecast that are then expected despite possible new curbs on exports to china. the bank of thailand is signaling more rate hike saying the economy is strong enough to absorb the low after policymakers unanimously delivered their fou

let's get to vonnie quinn with the first word headlines. vonnie: after two years of pandemic descriptions, some of the world's richest people gather in davos, switzerland for the annual economic forum. roughly 116 billionaires register to attend this year's event none from russia or china. wall street in particular will be well rep assented with the executives of jp morgan, lack rock and blackstone on the guest list. a republican lawmaker has called on the white house to turn over zero logs to president biden's home in delaware after classified judgments were found at the residence. james comer made the request in a letter to the white house chief of staff. the white house said saturday lawyers had discovered more classified materials at biden's home than previously announced. the japanese prime minister has declined to say whether his government will join a researchers on the export of high-tech chips to china. in talks with president biden at the white house over the weekend, he said he would deal with the semiconductor trade responsibly.

i'm vonnie quinn. this is bloomberg. ♪ >> still ahead -- we get more details on apple's latest plans to drop key chips from broadcom and qualcomm as it moves to using homegrown components. up next, j.p. morgan tells us why international equities will fare better than the u.s., but china looks problematic in the longer term. ♪ this is bloomberg. ♪ >> our next guest continues to believe international equities will fare better than the u.s., but china looks problematic in the longer term. with us now is joyce chang. always good to talk to you. let's start with the u.s.. we saw the rally today fizzling out, especially after more hawkish fed speak. should investors be taking profits at this point? >> happy new year. i think the fed is going to continue to keep talking to us. we are looking at 25 basis points in february and march. i don't think it is over yet, the economic resilience and strong labor markets, i don't think the fed -- i think the fed still has more work to do. they signaled this very clearly

difficulties with vonnie quinn.urn to first word news any moment. pakistan's prime minister says he is confident he could return to power this year. he was removed from office in a confidence vote last year. he told us the popularity of his party has rattled every other fraction in pakistani politics. >> the entire status quo is against me right now. the parties are all on one side and my party is up against them. can they are petrified, because -- and they are petrified, because the reason for this assassination attempt is they got scared of the popularity of a party. since we were removed for conspiracy on the ninth of april, on the 10th of april, hundreds and thousands of people coming out protesting around pakistan has never happened in pakistan. then followed a series of public rallies which were unprecedented. but what really scared them were the 36 elections that took place since and 29 out of 36 were won by us, despite the establishment on their side -- the administration was on their side. that's what's rea

let's get to vonnie quinn with the first word headlines. vonnie: advisors say ftx have found more than $5 billion in cash and assets that will help repay some investors and customers. a lawyer told the court that they are looking to monetize $4.6 billion in liquid assets. they also found other assets that are illiquid and harder to sell. blackrock plans to dismiss 500 employees as it grapples with sharp declines. the world's biggest asset manager says the cuts will affect 2.5% of its global workforce although that will still leave the headcount higher this year than last. blackrock is the latest wall street firm to announce reductions in staff. bloomberg sources say a corrupted computer file appears to have led to the breakdown of the u.s. air safety system causing thousands of flight delays and cancellations. we're told the glitch also created a failure and a backup system. the faa says normal operations are gradually returning. the white house said there was no evidence of cyberattack. russia has changed its lead -- military leadership in

vonnie quinn is there with the first word news. >> we are keeping our eye on south korea's economy. it shrank last quarter for the first time since the pandemic began. gdp contracted 0.4% from the previous four months as consumption slowed in response to rising interest rates. the economy expanded to .6% from 2021. the be o'casey 23 growth of slightly less than 1.7%. the u.s. has confirmed it is joining germany in sending tanks to help ukraine repel russian forces in the east. president biden says the deliveries will take time although he did not say how much time. washington's decision follows a broader trend of allies giving ukraine increasingly powerful weapons to counter russia. >> the expectation on the part of russia is that we will not stay united but we are fully, thoroughly, totally united. >> met us it is reinstating donald trump's facebook and instagram accounts. he was bland from the platform after the company deemed some of his posts encouraged supporters to invade the u.s. capital in january of 2021. mehta says they don't want to get in the way of open debate and that

we have that story and more as we get to the first word news with vonnie quinn. on is confirmed it is perennial have more than 18,000 staff, and a higher number than the company initially planned. ceo andy jassy says the reductions reflect those made in november and do once it is sharing today. several teams will be impacted with the majority of cuts coming in amazon stores and people experienced in technology divisions. notes from the last fed meeting show officials are committed to bringing down inflation. in an onion usually what morning they -- in an unusually blunt warning to investors -- fed officials intend on lowering inflation back toward the 2% target even at the risk of rising unemployment and slower growth. hong kong is said to be raising $5.8 billion u.s. via green bonds and multiple currencies. the city got more than $25 billion in bids, allowing it to trim pricing on the notes. there was also a strong reception to new green notes. the start of the new year is typically a busy period for vagabond sales. hong kong's economy must $27 billion of potenti

let's get you to vonnie quinn with the first word headlines. vonnie: german chancellor olaf scholz says his country will avoid a recession this year as it faces down russia's energy squeeze. speaking exclusively to bloomberg, he said diversifying gas supplies has been critical in keeping the economy going. he told us germany is getting through the winter energy crunch in better shape than feared. >> i am absolutely convinced that this will not happen, that we are going into recession. and that we showed that we are able to react to a very different situation. i think no one really expected that we would easily survive the situation, and there would be a complete stop of the supply of russian gas to germany and to europe. but we succeeded. vonnie: the white house has rejected calls from u.s. house speaker kevin mccarthy for president biden and senate democrats to begin negotiations on lifting the federal debt limit. republicans want deep spending cuts as the price for an increase in the statutory seating on federal debt, but the white house says

over to vonnie quinn. vonnie: after two years of pandemic disruption some of the world's richest people gather in davos, switzerland for the annual world economic forum. 116 billionaires are registered to attend the event but none from russia or china. wall street will be well represented with the executives of jp morgan, blackrock and blackstone among those on the guest list. a republican lawmaker has called on the white house to turned over visitor logs to president biden's home in delaware after classify document's were found there. james comey are made the request in a letter to the white house chief of staff. the white house said on saturday that lawyers had discovered more classified material at biden's home than previously announced. the prime minister from japan has declined to say if his government will join sweeping -- over the weekend he said he would deal with the semiconductor trade responsibly. washington began limiting chip exports to china in october. nepalese authorities say at least 60 peo

i am vonnie quinn. this is bloomberg. rish. rishaad: still to come this hour, and exclusive interview with the founder of the indian startup meesho, asking about competing with the likes of amazon and walmart as the company strives to get to profitability. that and more on the way. this is bloomberg. ♪ >> with the appearance of the inflation and the increasing of rates to try and stamp out the inflation, things have gotten harder. i imagine people today will say, when are we going back to normal like it was five or six years ago? it is important to note that was not normal, the best of times, and my belief is we are not going back there. rishaad: some remarks that were made by the oaktree capital co-chair. sailesh jha is still with us, chief economist and head of market research at rhb banking group. we have the selloff of equities is in u.s. and without weak retail sales, bad news was treated as bad news as opposed to good news because the federal reserve would not be as aggressive. does that change of view reflect anything in

let's get to vonnie quinn with the first word headlines. vonnie: the u.s. and e.u.olence in production and a brazil's capital where thousands of supporters of also narrow broke through security barriers and invaded congress, the supreme court and the presidential palace. the president says the incident is unprecedented in brazil and authorities will hunt down the protesters financial backers per day at least 200 people have been arrested. newly elected u.s. house speaker kevin mccarthy is rallying republicans with pledges to champion spending cuts and strengthen the borders paired on monday the house votes on a new rules package which includes a measure to allow a single member to force a motion to vacate the speakership to a cart the also gave in to the demands from republican hardliners to use the federal debt ceiling as a bargaining chip. ukraine has rejected as nonsense a russian defense ministry claim kremlin troops killed 600 ukrainian soldiers in major strike overnight. the cool officials say the region was hit by a russian missiles but military targets were

let's get the vonnie quinn for headlines. vonnie: the u.s.egun using special measures to avoid payments default after the debt limit was reached thursday. it is altering investments in two government funds for retirees to allow scope for payments while it is unable to boost debt. janet yellen urging congress to act promptly. joe manchin is calling for bipartisan approach to avoid default. the netherlands and japan are close to joining a biden led effort to restrict exports of chip technology to china and to destabilize its push into the industry. sources tell bloomberg dutch and japanese export controls may be finalized by the end of january. both countries are home to key suppliers of semiconductor manufacturing equipment. the biden administration says it is working with the european union to avoid a subsidy race on electric vehicles. katherine tai says the two sides have a history of work through disputes in a way that benefits them both. speaking at the world economic forum, -- also addressed u.s. ties with another major trading partner ch

let's get to vonnie quinn. onnie: newly elected kevin mccarthy is rallying republicans with pledges to champion spending cuts and strengthen borders. a new rules package includes a measure -- to vacate the speakership. to secure his win, mccarthy gave into demands from republican hardliners use the federal debt ceiling as a bargaining chip. greg abbott has confronted president biden demanding in a hand-delivered letter that the u.s. act immediately to stop unauthorized immigration. greg abbott says the letter suggests possible solutions including increasing deportations and constructing more walls. the president was visiting texas on his way to mexico city. ukraine has rejected as nonsense a russian defense ministry claim that kremlin troops killed 600 ukrainian soldiers in a major strike overnight. global officials say the -- region was hit with missiles but military targets were not affected. the attack was said to be a retaliation for a new year's day strike. global news, 24 hours a day, on air and on bloombe

shery: let's get to vonnie quinn with the first word headlines. nnie: the airline industry's lobbying group has slammed the growing number of countries ordering covid test for chinese travelers. a representative says it only delays the peak of new covid waves by a few days while hurting the economy. the u.s. is among those ordering predeparture tests. who says to -- two unknown variants. hospital cases as well as viral sequencing has been requested from china. kevin mccarthy has failed for the sixth time in his bid to be elected speaker. it deepens the chaos that has enveloped the chamber. hard-line conservatives refusing to give him any support. the house is due to convene again at 8:00 p.m. washington time. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: still ahead, we will be asking a global -- goldman sachs representative about their japan outlook. but first, this is bloomberg. ♪ >> a nasty earnings recession so t

i'm vonnie quinn, this is bloomberg.- >> we are getting breaking news when it comes to apple. it is switching -- a lot of its components to in-house, including these key chips. we are now reporting that apple is planning to start using its own custom displays in its mobile devices in as early as 2024. this is a big load to its tech partners, the likes of samsung, lg will be expected to move in the trading session as well. art of the broader effort to bring more components that it needs to make its devices and house. the company is aiming to begin by swapping out the display the highest and apple watches by the end of next year according to people familiar with the matter. the screens upgrade -- the current standard to a technology called micro lead. map -- apple is planning to bring the displaced other devices, including its flagship iphones. as i mentioned, really part of a sweeping effort to replace apple suppliers with this homegrown parts. it will mean the company gets more control over the designs, capabilities, pro

i am vonnie quinn. this is bloomberg. right, an exclusive interview with the cofounder of social network -- asking how they are taking advantage of the elon musk up at twitter. with china celebrating the lunar new year, we look at the latest economic projections good bloomberg economics, a growth forecasting a rebound by march. all that coming up. ♪ >> there is clear evidence inflation has pete and his coming down, right? when the fed will get us to 2% is debated. the second is not just the opening up of china, china has embraced the rest of the world more aggressively in the last few weeks, witnessed by the vice premier meeting with treasury secretary janet yellen. rishaad: james gorman on the sidelines of the world economic forum. bloomberg economics raising that production for china's growth, seeing the rebound starting off as of march. let's bring in david in. david, how much has it lifted things unwind -- and why? david: yes, the quick reopening was the reason for lifting the forecast, but we have other reasons one o

let's get the vonnie quinn. vonnie: u.s.l appointed a special counsel to oversee an investigation into the handling of dock vents associated with president biden. the move comes after document -- documents were found in at least two locations biden use before he became president. ayden suggested tuesday that documents found in his garage were secure. sam bankman-fried used a blog post to deny stealing from his now defunct crypto exchange. offering one of his most detailed descriptions yet of the collapse as he prepares to fight fraud charges, blaming crashing markets and an attack from a rifle. the 30-year-old regrets being slow to respond to public misperception. china says it remains open and transparent regarding covid data, which officials have not dated -- have not updated for days. the government is in close contact with the who, providing data despite concerns it is withholding information. china's last update can monday. -- k monday. vonnie: the three-month london interbank offered rate for dollars climbed 1.5 basis

i'm vonnie quinn. this is bloomberg. shery.d, bill winters tells us the global banking sector is strong, helping the economy whether price -- crisis after crisis. our interview in davos. janet yellen planning a trip to beijing after what officials are saying was a productive first face-to-face meeting with china's vice premier. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh >> we are really looking forward to a good renaissance in china. >> there is a feeling of optimism in davos. >> we expect to see china's growth recover, later this year. that has positive spillovers for the rest of the world. >> i am optimistic about china. the biden administration has done good work with china. >> we're hoping we can work with china, to encourage china in certain things we think would make a difference. shery: our conversations at davos. plans underway for u.s. treasury secretary janet yellen and

let's get to vonnie quinn. vonnie: the u.s.ill divide their battle tanks to ukraine. sources says the biden administration is expect to announce on wednesday. it will offer ukrainian forces the m1 abrams tank. we're told germany will. send a 14 tanks. it overcomes the disagreement that threatened to fracture allied unity and offer kyiv a new weapon to counter russia. australian inflation accelerated into the fastest pace in 32 years in the final three months of 2022, prompting money markets to price and an interest rate hike at next meeting rba -- at the next rba meeting. it exceeded economists 7.6% testament. the treasurer says it is too early to say if price pressures have peaked. >> this is high inflation by historical standards. there's no use pretending otherwise. it is unacceptably high. this is likely the peak in inflation that we -- we will not know for sure until we get the numbers for this march quarter, we are in now. vonnie: the new york stock exchange says some trades will be declared no and void after glitch cause

in vonnie quinn. this is bloomberg. haslinda?rg news has learned that goldman sachs is embarking on one of its biggest rounds of job cut. sue joins us. it looks like these cuts are fairly broad in nature. >> sources tell us a third of the cuts will come directly from the core banking and trading units so that underscores the broad nature. sources say the plan to eliminate about 3200 jobs is one of the biggest round of cuts in goldman's history but that said, sources also point out that late last year there were discussions of eliminating up to 8% or as many as 4000 jobs apparently the review of cost-cutting that was not necessary. the ceo david solomon has signaled there would be job reductions in his and of your message to staff saying something to the effect of you have to assume we are going to have bumpy times ahead. we are told the cuts will begin in the middle of the week. we are also told that the firm still has plans to go forward and continue hiring as well as bring on board its regular analyst class later in the year. w

i am vonnie quinn. this is bloomberg. yvonne: we will be joined by bain capital.plus, a republican revolt sees the majority party failed to elect the house speaker for the first time in this century. that is all coming up next. this is bloomberg. ♪ the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. yvonne: the united states has adjourned without electing a new speaker after kevin mccarthy the old to win a majority of votes from his own party for the first time in this century. david: let's bring in our reporter. this was not completely surprising. >> it is the first time it has happened in 100 years where we have not had a speaker elected in the first round. it is not surprising because of what happened in the midterm elections. republicans had expected to win handily and have a big majority in the house. that did not happen. they took contr

for now, let's get the first word news with vonnie quinn. >> sources have told us china is considering to $560 billion for special local government bonds. special bonds are a key funding source for infrastructure. officials are also said to be looking at widening the budget deficit target to 3% of gdp for 2023. china has transferred a senior diplomat associated with the administration's more controversial shift to a new role. it comes after china's ambassador to the united states left israel to become foreign minister. it is the latest sign that china is rethinking its wolf warrior approach. president biden has talked to lula da silva in brazil. security forces have arrested and hundred supporters of the former president over the riots. bolsonaro is in florida and his presence is becoming a diplomatic headache for president biden who was facing pressure to cancel his visa. >> present micron and present because she got our meeting over shared concerns over china and north korea. they tell bloomberg best the meetings are likely to go well. apple is planning to drop a key chip from its ag