18 Burst results for "Gaziantep"
Wardrobe Crisis
"gaziantep" Discussed on Wardrobe Crisis
"And the business and madness of fashion. On February 6th, 2023, a massive earthquake hit southeastern turkey and northern Syria. It was magnitude 7.8. But it's not just the magnitude that matters, it's also about how shallow the quake hits. And it's of course about population density in the communities affected and how the buildings there are built. Now at the epicenter in turkey, the city of gaziantep famous 2000 year old fort was just one of the buildings that collapsed or had to be demolished. I'll share some pictures you can see the before and after it's just so feel so symbolic to see this thing. From the second century, it's lasted all this time and now it's rubble. But that's just one of thousands and thousands. The region is one of the most active earthquake zones, but this quake was the deadliest in Syria since 1822. And in turkey, it killed more people than any other earthquake in 1500 years. Official figures put the death toll beyond imagination. It's 50,000 people or more than 50,000 people, it's completely you can't imagine it, right? And to make matters worse, it had been a really bad winter. I'm sure you saw the heartbreaking footage on the news, rescue workers trying to find survivors in the rubble. People displaced and sheltering in tents with no blankets. It's absolutely grim. But as it slips out of the headlines, it doesn't mean the problems disappear, of course. Now, you might be wondering, why am I talking about this on a fashion podcast well? Firstly, there's a huge textiles and manufacturing connection because turkey is a big producer. And while the factories are mostly elsewhere, gaziantep and other affected provinces are actually significant for the sector too. There's also a lot of cotton produced in turkey and sourcing journal reported that farmers and program partners of the better cotton initiative were among the victims, and also that many ginning facilities and spinners were based in the affected areas.
Monocle 24: The Globalist
"gaziantep" Discussed on Monocle 24: The Globalist
"I mean, last week I was in karman marash, which is the epicenter of the first earthquakes, and I was also in her tie. And there are certainly people on Mars, which is an area that's considered absolute bedrock of support for Erdoğan and the AKP. His political party. And depending on who you spoke to, people were saying, well, you know, we have some way to live temporarily. But we have questions about the long-term understandably in you have and this is the province that's not considered traditionally quite the same level of supportive towards the government and people say that they were for a long time have been neglected by the government. Their claims were that it took days for there to be a system after the earthquakes and that a lot of the assistance that is coming is not coming from the government directly. It's actually coming from cities and provinces controlled by the opposition. And that their only option is to leave entirely and find somewhere else in the country to live, but that, for many people, is proving extremely expensive, it means uprooting their entire lives. And we're also hearing reports that when people want to go to other cities, that is now they're now falling victim essentially to predatory landlords who aren't seeing an opportunity to raise rental prices out of the economic limits of a lot of displaced people. I mean, and by here, this goes back to what you're saying about international help not coming. Overnight, we see that there are reports that the UN just waited far too long to go into Syria. They were saying that they needed permission consent illegal opinion says that's not true. Could they have come in done more and been there faster? I think this is a difficult question to answer. I mean, the first element to understand is that those who failed to come in in the first days are the search and rescue teams. And that's not necessarily the UN responsibility. Each of each state made a decision to send search and rescue teams to earthquake affected areas. Depending on different criteria. And there are no state who made the decision to send search and rescue teams into Syria into northwest Syria. On the other side, for the UN, the we have to understand that indeed everything should have been faster. And we should have reacted much quickly. They should have been in much faster with the humanitarian response. But we also need to understand that the coordination mechanisms of the UN and the offices of the UN who are in charge of the northwest Syrian response are based in gaziantep. And Ankara. And so they were also actually affected by the earthquake. Most of them lost their loss. Their offices, their loss and colleagues. And so the coordination took a little bit of time to. Go back in line and to start responding to the emergency. There is a responsibility from the UN. So the different headquarters levels, New York Geneva, they should have sent people faster to support their own teams in gaziantep and to be able to respond much faster into inside Syria. And meanwhile, the gap was being plugged by your own organization. Tell us what the Norwegian refugee council is doing there. So what we have been doing so the Norwegian refugee council, luckily, we didn't experience any losses in our team. So some of our colleagues and fortunately lost their homes. But we were lucky enough that our colleagues didn't were not injured or didn't pass. So they decided our field colleagues decided that they wanted to respond as fast as possible. To the earthquake and we started on day three, mostly by this, I think we might have lost by here there. Ruth, just a final question to you, really. In terms of international aid, I wonder if there's been enough of that and if it's been fast enough. Well, certainly, I mean, we saw that major official in the UN Martin Griffiths visited the northwestern Syria and said, you know, the United States has failed the people of northwest Syria. And I think, you know, when I went to Idlib, I saw people who were living in tents because they had been displaced by fighting. They had fled bombardments by the regime of Bashar al-Assad. And that then their homes had been that they had fled to inside Idlib had been destroyed by the earthquake, and now they are living in tents with in many cases having lost family members as well. And this is a region that is until recently was dependent on a single lifeline of aid going through the Babel hawa border crossing into turkey. And I mean, I listened to some report by a group of American medics that went into northern Syria a couple of weeks ago. Who said that they tried to take boxes of equipment for people for doctors inside Syria. With them. And that even taking these boxes of vitally needed equipment across the border with them into Syria. There were delays and there were holed ups on that. And that's when the people taking them right there. And so I think that there are real hold ups and questions about the aid that needs to be going into northern Syria that is desperately needed. And these delays in this lack of assistance are to put it bluntly extremely confusing. There's no real reason for it. And it's understandable that the people of northwestern Syria feel that they have been forgotten by the world. That was the overwhelming feeling and statements that I got from speaking to people there is that they feel the world has forgotten them. And unfortunately, that's being made materially evident by the lack of help. Ruth, thank you very much indeed. That was Ruth michelson in Istanbul and Bahia, jury came from the Norwegian refugee council. All
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Effort to aid millions of earthquake victims in turkey and Syria has now transitioned from a rescue mission to find trap survivors to a relief and rebuilding campaign that's expected to take years. Delivering aid of any kind is especially difficult in Syria. The country and its leader Bashar al-Assad are cut off from most other nations by U.S. and European economic sanctions that are aimed at pressuring Assad's regime. For more than a decade, he has violently tried to crush opposition. Governments and relief organizations that want to help are often obstructed by the demands of the government, which tries to control the flow of money and supplies. And they're sometimes wary of running afoul of the sanctions, which can come with heavy penalties. What we hope to see is that all viable routes into northwest Syria are opened to ensure that aid agencies can really get into the country at scale and speed necessary to deal with this really devastating crisis. That's Jennifer Higgins with the international rescue committee. It's a group that's trying to get past all these hurdles and help earthquake victims in Syria. And we'll hear more from her in just a bit. First, my colleague Sylvia west in Dubai and Nick wads in Washington are here to untangle the complexities of trying to do the right thing in a volatile part of the world. Sylvia, can you describe what's happening right now both in Syria and in turkey. What we're seeing is a very different picture on the Turkish and Syrian side, although they're obviously affected by the same earthquake and their populations that live very closely together along the border. A lot of the focus has been on turkey and the earthquakes because the actual epicenter of the earthquake was in turkey, gaziantep, and there's just been sort of much more coverage about what's been happening there. It's easy to report there. It's easy to get information and to understand what's happening. These are also areas that are important to Turkish government, their strongholds of support for president Erdoğan and his party have had kind of an updated death and injuries toll of people from turkey but Syria the information has been quite spotty. And the numbers don't really make sense that have been reported on the official news agency. Nick is Sylvia points out earthquakes don't care about borders, but governments do. And that difference between the response in Syria and the response in turkey especially from the world community has been very different in part because of the heavy sanctions against Syria. Can you explain just exactly why Syria has become essentially a pariah nation? The Syrian Civil War began in about 2011 and since then Bashar al-Assad, the president has committed a series of abuses against his own people, including chlorine gas attacks. And the country is essentially been riven by Civil War and is now divided into a series of territories where various groups have control. And my impression from the U.S. side is that there's basically Assad and then this whole array of other groups, including the remnants of the Islamic State, and then you have the involvement of all sorts of other countries from the outside, obviously turkey, Israel, Iran. It's just sort of become this welter of groups where the battle lines are not clear and are constantly changing. You know, Sylvia, I would love to hear your thoughts on this actually. Half the time, I'm not even really sure what anybody is fighting for anymore. I mean, it's been 11 years since the start of the Civil War. And it can sometimes feel very hard as an outsider to really understand, I mean, you know what Assad's motivations are. He wants to stay in power and have as much control as possible. But all the other groups it's like, what do they want? I would just question whether we can call it a Civil War at all because I guess a Civil War is a war between its own peoples and what we really have here is a conflict in a country that's drawn in lots of international powers and groups. And Ames and demands and so on. So I kind of try to avoid calling it a Civil War in our copy because it's kind of more completely beyond that. So it starts off as a mainly peaceful uprising against the government. So you had this uprising you had a very violent crackdown against it. So I think, you know, we're really seeing a war that's brought in global powers. If the Syrian government, the main aim is to reclaim all Syrian territory and say this is Syria at Syria as a whole. And then these groups on the ground, yeah, they all have different motivations they want to hold on to the territories that they have. The areas that were affected by the earthquake, it's a mix of groups that control the territory. It's mainly out of government control in those areas of groups like the kind of the remnants of the main Syrian rebel force, also got the U.S. backed forces, which involve mainly Kurdish fighters, but also other fighters from other groups. That's one other force. You've got the remnants of a lost front Al-Qaeda, Islamic State, though that's kind of quite a minimal presence. And I think perhaps in the U.S. discourse, that's kind of often highlighted as a main concern in Syria and I'd say, you know, all of this airspace as well, Russia basically controls the airspace. So that's another element in there. You've got Iranian backed elements. You've got pockets of government held support, so it's this real mix of different groups in these areas. But the main problem is within that area you've got a lack of infrastructure for transporting large amounts of aid. In an effort to either boot Assad from power or sway the course of the Civil War, the U.S. and its allies have imposed some of the most crippling sanctions anywhere in the world. I mean, up there with North Korea and Myanmar and it's really made Syria essentially one of the most isolated countries economically in the world, the middle class has scattered international companies have completely scattered. There is no resource. There's no infrastructure now on the ground for a lot of aid groups. Some aid groups do do work there, but there's really no financial infrastructure on the ground now. For groups to go in quickly and to be able to provide the support, the humanitarian assistance, the Syria would need. Yes, you've got people that have been internally displaced in the millions within Syria itself, and many of those people are in some of those zones. And then you've got also people that have crossed over the border into turkey, so you've got the largest refugee population in the world, is in turkey, and
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Money and supplies. And they're sometimes wary of running afoul of the sanctions, which can come with heavy penalties. What we hope to see is that all viable routes into northwest Syria are opened to ensure that aid agencies can really get into the country at scale and speed necessary to deal with this really devastating crisis. That's Jennifer Higgins with the international rescue committee. It's a group that's trying to get past all these hurdles and help earthquake victims in Syria. And we'll hear more from her in just a bit. First, my colleague Sylvia west in Dubai and Nick wads in Washington are here to untangle the complexities of trying to do the right thing in a volatile part of the world. Sylvia, can you describe what's happening right now both in Syria and in turkey? What we're seeing is a very different picture on the Turkish and Syrian side, although they're obviously affected by the same earthquake and their populations that live very closely together along the border. A lot of the focus has been on turkey and the earthquakes because the actual epicenter of the earthquake was in turkey, gaziantep, and there's just been sort of much more coverage about what's been happening there. It's easy to report there. It's easy to get information and to understand what's happening. These are also areas that are important to Turkish government, their strongholds of support for president Erdoğan and his party have had kind of an updated death and injuries toll of people from turkey but Syria the information has been quite spotty. And the numbers don't really make sense that have been reported on the official news agency. Nick is silvia points out earthquakes don't care about orders, but governments do. And that difference between the response in Syria and the response in turkey especially from the world community has been very different in part because of the heavy sanctions against Syria. Can you explain just exactly why Syria has become essentially a pariah nation? The Syrian Civil War began in about 2011, and since then, Bashar al-Assad, the president has committed a series of abuses against his own people, including chlorine gas attacks. And the country is essentially been driven by Civil War and is now divided into a series of territories where various groups have control. My impression from the U.S. side is that there's basically Assad and then this whole array of other groups, including the remnants of the Islamic State, and then you have the involvement of all sorts of other countries from the outside, obviously turkey, Israel, Iran. It's just sort of become this welter of groups where the battle lines are not clear and are constantly changing. I would love to hear your thoughts on this actually. Half the time, I'm not even really sure what anybody is fighting for anymore. I mean, it's been 11 years since the start of the Civil War. And it can sometimes feel very hard as an outsider to really understand, I mean, you know what Assad's motivations are. He wants to stay in power and have as much control as possible. But all the other groups, it's like, what do they want? I would just question whether we can call it a Civil War at all because I guess a Civil War is a war between its own peoples and what we really have here is a conflict in a country that's drawn in lots of international powers and groups and Ames and demands and so on. So I kind of try to avoid calling it a Civil War in our copy because it's kind of morphed completely beyond that. So it starts off as a mainly peaceful uprising against the government. So you had this uprising you had a very violent crackdown against it. So I think we're really seeing a war that's brought in global powers. If the Syrian government, the main aim is to reclaim all Syrian territory and say this is Syria at Syria as a whole, and then these groups on the ground, yes, they all have different motivations they want to hold on to the territories that they have. The areas that were affected by the earthquake, it's a mix of groups that control the territory. It's mainly out of government control in those areas of groups like the kind of the remnants of the main Syrian rebel force, also got the U.S. backed forces, which involve mainly Kurdish fighters, but also other fighters from other groups. That's one other force. You've got the remnants of a loss front Al-Qaeda, Islamic State, though that's kind of quite a minimal presence. And I think perhaps in the U.S. discourse, that's kind of often highlighted as a main concern in Syria. And I'd say, you know, all of this airspace as well, you know, Russia basically controls the airspace, so that's another element in there. You've got Iranian backed elements. You've got pockets of government held support, so it's this real mix of different groups in these areas. But the main problem is within that area you've got a lack of infrastructure for transporting large amounts of aid
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Bloomberg television and radio. I'm David Weston. The world has looked on in horror and the result of those earthquakes in southeastern turkey. But it wasn't just southeast turkey. It was effective. It was also northeast Syria, which is an area that has been the victim already of the Civil War there. Welcome now, somebody who knows terribly well what's going on there because he has a lot of his colleagues there. He's David Miliband. President and CEO of the international rescue committee, mister millman, of course, earlier served as British foreign secretary under prime minister David Cameron. So David, thank you so much for being with us. Give us a little David. I wasn't foreign minister on the David Cameron. You could create a great big political story about that because he was the conservative government that succeeded us. And you were labor. Gordon Brown. Sorry, I beg your pardon, David. Thank you for correcting me. But let's go back to turkey and particularly in northeast Syria. Give us a sense of what's going on there now. Yeah, the lines of the earthquake cut across national lines. So it was the southwest of turkey, focused on gaziantep. And the northwest of Syria focused on Idlib province and neighboring province of Aleppo. Now, the crushing thing about the situation in northwest Syria is that the earthquake disaster was piled on ten years of Civil War. The northwest of the country is run by armed opposition groups not by the government in Damascus. And in fact, the government in Damascus with the Russian support have been in active conflict with the governing rebel authorities in the northwest of the country over the last few years, a 145 people were killed, civilians were killed last year. So this is crisis terrain. It's contested terrain. It's incredibly poor terrain, and just to cap it all, the northwest of Syria isn't just the home to two and a half million people who've lived there for many generations. It's home to 2 million other Syrians who fled there from the fighting elsewhere in the country. So you can see that when my colleagues and I talk about a crisis upon a crisis, we're talking about an earthquake crisis on top of ten years of Civil War which have reduced decimated the northwest of the country. And so today, the greatest needs are in the northwest of Syria, the greatest gap between needs and provision is in the northwest of Syria. That's not to say at all that the situation in turkey is fine. It's not. But we've got to make sure that these poor united people in the northwest of Syria finally get some help and attention. So David, given the situation, it would be a horrific task to get the people on the supplies in if there were no other issues. We're seeing that in turkey, can you get the people in supplies into this area? Well, we've got the people in David because there are staff, my colleagues who work there and are recruited locally 400 or so of them running health services, water and sanitation services, economic livelihood support, education, and have been for ten years. And they are people from the northwest of Syria and people who've been displaced into that region. So we don't have a problem getting our staff in. Their problem is they can't get out. They're trapped there, but they do work for us and the critical thing is whether they have supplies, whether our nurses and doctors get the medical supplies, whether cash deliveries is working, whether we can get household suppliers. So that's the issue. Devi, you mentioned cash supplies. What about funding? Where is funding coming from at this point to what extent are governments funding the United Nations? Or are you relying on private funds? Well, we are relying mainly on private funds at the moment. There's been an extraordinary appeal in the United Kingdom that disasters emergency committee, which goes into action two or three times a year. We're a member of that. It's raised about $70 million from the British public, which is a real outpouring of generosity. There are UN funds and the UN is the largest food distribution agency in the northwest of Syria through the world, Food Program. But the big problem is the politics, frankly, because the crossing points, the official humanitarian crossing points have been reduced to just one as a result of various Russian vetoes at the UN Security Council over the last two years. Now, there has been an agreement to open up more crossing points. And that's important because at the moment, if you like a bottleneck of humanitarian traffic at the turkey Syria border and that's a big problem. David, we have an audience here of leaders in business in the financial community. If they are right now asking themselves or about to ask us, okay, what could I do if I wanted to do something contribute? What would you tell them? Well, I'd respectfully ask them to go to visit the IRC website at WWW dot rescue dot org to see what we're doing on the ground, what the situation is on the ground. We don't want your viewers to get in a truck from elsewhere in Europe or elsewhere and drive to the Syrian border. That's not the best way to help the best way to help is through organizations that have got credibility and legitimacy on the ground. Was it such contested conflict terrain that if you don't have legitimacy and credibility with the local people, you're not going to be able to make a difference. So I think that there is a need for the private sector as well as for government to step up. I hope the private sector uses its voice and its muscle and its supply chains, for example, for medicines, as well as its financial resources. And what about the regime of mister Assad? What role is it playing the Athenians? Is it staying away? Is it participating? What is it doing? The Assad government regime has come to an agreement with the UN to open more crossings and it has promised to facilitate what's called cross line. That's not cross line between countries. That's cross line between combatants between government held areas and rebel held areas. One of the terrible stories of the last 12 years of Civil War is that there's been effectively zero cross conflict line aid from the Damascus governed parts of the country to the rebel held parts of the country. But there have been promises to make a difference there. However, the most direct route to helping people in Idlib and Aleppo provinces is across the border from turkey into Syria and that's what needs to be facilitated. David, thank you so much for being with us as David Miliband. President CEO of the international rescue committee, who served under prime minister Gordon Brown. I will not make that mistake again. Coming up, the 2024 race for the California Senate seat being vacated by dianne Feinstein. We're going to talk with democratic congressman from California, Brad Sherman. That's next on balance of power on Bloomberg television and on radio.
The Christian Science Monitor Daily
"gaziantep" Discussed on The Christian Science Monitor Daily
"I will never judge the choice a family makes for their child when it comes to their education, she says, they know their child. They know what their child needs. My job is to make sure that their public school is a viable option. The story was reported by Jackie valley in Reno and sparks Nevada for the monitor. Trauma affects children differently than adults. But as turkey and Syria attempt to recover after their deadly quake, research shows that children also exhibit high degrees of resilience. Especially when the community steps in. The massive earthquake that strikes Syria and turkey last week has killed more than 41,000 people and displaced over a million more. According to Turkish government statistics. Among those affected are 7 million children, living in the regions that were hit, according to UNICEF. Thousands of children have died, and thousands more have lost a parent or caregiver or both. Although no concrete estimates of that number yet exist. Rescue workers are rushing to attend to their needs in the crucial days ahead. Among the most critical priorities is identifying unaccompanied children. Following this scale of disaster UNICEF says, children separated from family are vulnerable to violence, exploitation, and abuse. Children rescued from under the rubble who have lost their families, many of them so shocked into silence, they do not know their own names, have been left in the care of pediatricians. Those with their families are dealing with the traumas of homelessness and hunger and watching their caregivers suffer. Children face unique vulnerability after a natural disaster. But research also shows that children are uniquely poised to withstand tragedy, especially when support networks step in to provide care. This story was reported by Aaron O'Brien in gaziantep, turkey, for the monitor.
WTOP
"gaziantep" Discussed on WTOP
"Various reports, things being heard on police scanners, but I have friends who live in these southern portions of campus. That told me about 5 minutes ago that they are still here in gunfire. And students and staff on the MSU campus in east Lansing have been told to shelter in place. Police in New York are investigating why a man drove a U haul truck into several people at multiple locations in Brooklyn this morning, killing one person and injuring 7 others. This woman saw it. The guy who got hit was in the middle of the room. He was bleeding all over his head, was covered with blood. Witnesses say they heard a loud bang when they ran outside, they saw a U haul with what appeared to be a bicycle trapped underneath, along with a victim suffering from severe head injuries. This WCBS TV's Christina fan, the suspect is in custody, nearly 37,000 people are confirmed dead in the earthquake that devastated turkey and Syria, as CBS MTS tayab reports, the disaster is shedding light on complaints of inadequate building construction. You know, I know turkey reasonably well. I've spent a lot of time in this area, particularly in areas like gaziantep also badly devastated and to see it now in this state just in ruins is heartbreaking and just almost impossible to describe just how horrible it is for the people who are survived. They are stunned. They are traumatized, but they are also angry. CBS News has learned the navy has recovered a significant portion of the antenna from the Chinese spy balloon shot down over the Carolina coast last week. However, questions persist over three flying objects shot down over North America since Friday. CBS Nancy cordes. At 20 to 40,000 feet, they did pose a potential risk to civil aviation, according to defense secretary Lloyd Austin. I don't want to reassure Americans that these objects do not present a military threat to anyone on
AP News Radio
Rescuers in Turkey pull 5 members of a family alive from rubble, 129 hours after earthquake
"Of adiyaman have recovered a woman from the rubble of a collapsed building, 128 hours, after the disastrous earthquake hit the country and Syria. Meaning murat is carried out by rescue workers on a stretcher, as other rescuers continue the search. Rescuers on Saturday have also pulled 5 members of a single-family the Aslan's alive from the wreckage of their home in the hard hit town of no dog in gaziantep province, 129 hours after the quake, they first extricated the mother and daughter from among the debris, later reaching the father, but he insisted that his other daughter and son be saved first.
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Is a State of the Union ancient news where you don't even touch on it Sunday morning. We were actually just talking about that. It does feel like ancient news, doesn't it? I mean, we look at just the death toll in turkey and Syria from this earthquake. You look at where we have come with the disclosures in regard to the intelligence around the surveillance balloon. There's just a lot of things to cover that feel very immediate in this moment. Exactly. Yeah, I think that's where we'll be. I wouldn't normally do this folks, but with Margaret Brennan's commitment to international journalism in particularly to the eastern Levant, the greater part of the eastern Mediterranean, Margaret, this is somewhat close to home for you. This is a northeast Mediterranean but to stop west of northern Iraq, the memory of Christopher Hitchens, but the bottom line is it's an area you have a visceral knowledge of. What would you say to Americans of the impact of the people of a fractious Syria turkey border? The place in turkey in northern Syria where this hit, those people have gone through the unthinkable for 12 years. Many of those who are in gaziantep turkey where this hit are refugees who have been at war with their government for 12 years. So for those people who are still within Syria's border, their government is not helping them. They have actually been bombed by their government for over a decade. So that is why there's this difficult moment for the United States to figure out how to get aid in via partner groups and try to keep it out of the hands of the Assad regime. But 21,000 people, I mean, this is the toll that just keeps climbing. And if you certainly, if you live in California, or any place else that is earthquake prone, I'm sure it lands a bit differently. When you see just how devastating this was. Margaret, what is the American response when it comes to that region, just given the delicacy that you just outlined? Well, you have a tremendous regional response. Israel surrounding countries, even Ukraine, sending rescue workers, but we're now past that three day Mark. And it is less of a rescue and more of a recovery at this point. So for the United States, through USAID, that part of the State Department that helps with U.S. assistance. It's mainly food shelter. It's water. But I think so many people know in their own communities drives that are happening. My son's school just did one to pack up winter clothing the fender. Also, the State of the Union in the festivities of the week for the GOP. And I know we're just barely getting into this market right now. What kind of week do you feel the Speaker of the House had? I mean, how will you address this on face the nation on Sunday? Well, you know, the Speaker of the House when he was on with me a few weeks ago was clear that for him, entitlement sending off the table in any negotiation. So when President Biden stood up during the State of the Union and again said that it was in question, he was vigorously shaking his head no. Behind the president, if you saw, but that was the red meat being dangled that some on the more conservative members of his caucus just jumped at to call the president all sorts of things. But look, there are members of the Republican Party who have Rick Scott who have talked about reviewing entitlement spending every 5 years. Now, this is a bit of a game. It's not like kill it or let it live. There is some nuance. I think everyone knows in terms of just the lack of sustainable entitlement funding that does need to be addressed at some point. But that's not being discussed right now. Really at all. So it's a bit of a political cudgel at the moment to scare older people. But also to remind people that the Republican Party is not aligned and point of view on this issue. Brennan, thank you so much. Events moving quickly and we move to face the nation and the CBS television network see that Sunday morning, and I'm Bloomberg radio face the nation Sunday at 2 p.m. in New York, Washington, D.C., and Bloomberg one O 6 one Boston newberry port face the nation Sunday at two. I'm Bloomberg at radio futures negative 19. With our news in Washington, using Morris. All right, thank you, Tom, health providers bracing for massive disruptions. They're waiting for a federal judge's decision on whether to halt national access to an abortion pill which was approved decades ago by the FDA. The judge is expected to rule very soon on the alliance defending freedom's request for an injunction, stopping the sale and distribution of mifepristone, which is used to end pregnancy within the first ten weeks. Rescue crews still searching for people trapped in the rubble after Monday's massive earthquake in turkey and Syria, they're also finding survivors after more than 100 hours under the rubble in bitter cold. Didem damira Khan is the deputy executive director for oxfam in turkey. That's a charity that helps fight poverty and she says her first priority now is just to provide basics. We have to make sure that these families or people that survive this disaster really have the basic needs like water, food, shelter. The death toll has surpassed 22,000 people. Some house and said at lawmakers were briefed by intelligence officials on the Chinese balloon that floated across the U.S. and was shot down off the coast of South Carolina last week. Dennis wilder, a former CIA officer who served as National Security Council director for China, calls the whole balloon incident an intelligence failure. Frankly, The Pentagon and norad are North American air defense system. We're asleep at the switch. They went back through their databases and lo and behold, they found these other missions that they had not detected at the time. So this is a real failure. Former CIA officer Dennis wilder was on Bloomberg sound on, which you can hear weekday afternoons at 5 eastern
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Thank you so much, Charlie pellet. From the Bloomberg 91 9 one studios in Washington, this is balance of power. I'm David Weston. Well, the catastrophe in turkey continues to get worse and worse as the death toll mounts to over 11,600 now. Rescue workers come in from all over turkey and all around the world to try to help out to try to serve the injured and actually still try to rescue people there and president Erdoğan obviously has declared a national emergency. They shut down actually the stock exchange for some period of time to bring us up to speed on what we know about going on in turkey and what could be done about it. Welcome to James Jeffrey. He's chair of the Middle East program at the Wilson center. Mister Jeffrey earlier served as U.S. ambassador to turkey, so mister ambassador, thank you so much for being with us. What do we know? What do you know about what's going on? I suspect you have better sources than I do. Well, we're all of course following this closely. I was on the ground during the 1999 Turkish air strike near Istanbul. First of all, the Turks have pretty good capabilities to rescue people and to provide humanitarian assistance, but now the hundreds of thousands of people who are without homes can not go back into damaged homes. That will be the next issue right now because the recovery of living people period has about expired unfortunately. But we're talking about 11,000 people killed 8000 at least in turkey and 3000 more in Syria. The international mobilization has been extraordinary, including particularly the USAID efforts, the biggest launch of fast deployment teams we've ever done. And that's all to our credit and to the credit of the international community. So turkey will come out of this. Now the question is, president Erdoğan has elections in three months and how he performs in this crisis will have a big impact on whether he wins the election or not. Frankly. Yeah, I definitely want to come back to that election, but before we get to that, give us a sense of the climate conditions right now for these people, there's so many people who are homeless. Yeah, I spent two years in that area. The winter is very cold. A lot of it is some two or 3000 feet high. You get a lot of snow, even now, and those bitter conditions are making it very hard to build the stones away in contrary to the way to get people out. And frankly, it's very hard to provide food, clothing, and most importantly, shelter for the people who are out there in the cold right now. Mister ambassador, you know the geography, I do not. Where is this in relationship to some of the areas where we had refugees coming across the border from Syria fleeing the conflict there? This is a right not of the main area where the refugees came across around gaziantep. The refugee camps essentially are in a string of locations from roughly gaziantep all the way to the west to the Mediterranean Sea. Now, very few refugees fortunately have so far succumbed. And the reason is in our visit to the camps, the Turks did a great job building essentially one story refugee shelters for these folks. And so that's kept them alive. It's a high rise buildings that have pancaked and killed so many people, frankly. Well, I remember the irony in that, isn't there. Before we turn to the politics of the election coming up for president Erdoğan, what about the economy in turkey before this disaster happened? It has been struggling, has it not? The Turkish economy is always struggling. Except that it is bouncing back. It's one of the strongest economies in the world somewhere between 17 and 15 of all countries in the world. Very balanced. Very good industrial production and a strong trade, including with the U.S.. Now Erdoğan fiddles with the monetary system to the disadvantage of tricks. And it is suffering under quite significant inflation, but that has less of an impact in turkey than it does in the United States because people, frankly, are used to it on my whole 40 years involved in turkey. You've had inflation a lot. But nonetheless, that is a weakness that this particular crisis will compound. That's the problem for Erdoğan. He's got to get resources in there quickly without further hurting the economy. And he's capable of doing this. He's pulled a rabbit out of the hat many times, but we'll see this time. You mentioned earlier, mister ambassador, the USAID playing, I hope a prominent role in trying to help in turkey. Does the European Union step in, a turkey is after all a member of the European Union, right? It's not a member, but what it is is it is a candidate state, which is right. It's a member of NATO and it's a candidate state for EU. The member of NATO, yeah, more importantly, it is in a customs union with the EU, which has been a major boon for the economy. And there are tremendous ties between Europe and turkey a much more than between the United States and Ankara other than defense. So the European Union is making a major effort as well. And of course they are closer. And now turn to the politics that you referred to earlier. There is an election coming up. I always had the impression that president Erdoğan was sort of president for life, but I understand this might be a trickier election for him. It's tricky because under the new constitutional system from 2017, it's a like in America. It's a simultaneous vote for the president where it could be two rounds if he doesn't win in the first round with more candidates. And then it's a vote for parliament. It is quite likely that Erdoğan, at least by the second round, will win the election, you know, Turks like strong people and he's a strong leader. But whether his party and its. Partner party, the national action party will win the 50% to have a majority in the parliament is another question. And that could be interesting because Erdoğan might have to govern with a honoree and opposition led parliament. And we haven't seen that before under this new constitutional system. But I think as president he will remain, yes. What sort of opposition are we looking at? Is it a splintered opposition or is it something that could be really effective in counterbalancing president Erdoğan if in fact he gets to be reelected as president, but he's not having a majority in parliament? It's the best opposition Erdoğan could ever imagine. Splintered. The likely leader of it, a man named Khalid star olu is extraordinarily passive and has no charisma. Compared to Erdoğan, who is all charisma. And the opposition is not going to win any points on its unity on its platform or on its leader. But what they will do is win points running against Erdoğan because he's popular among some circles and not as rather like American politics. What is the effectiveness, if any of the news media in turkey? Because we hear a lot about imprisoned journalists in turkey. The last time I checked, it is a very high number. It's most less and more serious. Erdoğan does try to control the press. I read the press all the time. He doesn't succeed. People are willing to take risks. And the other thing is, it's a badge of honor in turkey a to go to prison. Erdoğan went to prison. Most of the political figures I know were put in prison for one or another period. When they're in prison, they continue doing politics that continue communicating. And sometimes they run for office. So. The point is that journalists in turkey are very courageous. They get out the word. They challenge or to want not as much as we would like. But I would characterize it as a semi free press. Finally, mister ambassador, let's talk about Ukraine, because early in the days of the conflict, which is coming up on a year now, a president Erdoğan sought to play a significant role in maybe brokering some sort of arrangement with Russia and Ukraine. Is that continuing? It is continuing. Erdoğan has done two drain deals as the intermediary between Russia and Ukraine and when Russia blocked the first one. Erdoğan threatened to put his navy into the Black Sea of further into the Black Sea to escort Ukrainian ships and that brought booting around. Erdoğan has a love hate relationship with Putin, but at the end of the day, Erdoğan is going to do all in his power in turkey's power is extraordinary to stop Russia from succeeding in Ukraine. That's a huge plus for us. But why is it that he wants to stop Russia from succeeding in Ukraine? Well, because the Turks live in anarchistic hubs in world, 19th century politics and Russia is a bigger and more
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Slowdown is continuing. I think these hiring freezes cutbacks are continuing. And again, I think it's going to be very unique where it's going to be this mid to high level person who maybe got overpaid during the post COVID breakout at these disruptive companies. They're most at risk. This isn't going to be a recession that hits low income earners that much. It's going to be that swath of people. And that takes time to play out. Middle managers and we're seeing that pretty much across the board that the middle management quadrant is really the one that has been hit the hardest by some of the layoffs announced. Peter, you said three to 4% inflation looks likely over a longer term if the U.S. does invest in some of these supply chain issues. What does that mean for credit given where yields have been for so long? What does that mean for the NASDAQ and tech valuations? I think ultimately it will be very good. I think we're going to have to digest this higher cost, but then people will realize that there is some safety in this. And probably the most interesting discussion we're having right now is people are really thinking at the corporate level. What is the cost of a widget? If it costs 80 cents here, but a dollar here is it really peripheral. Is it the same? And I think people are taking into account the supply chain security, job security, all these things much more than they have in the past, and that's one reason I think the government's going to have to kick in. And some of the stuff in the inflation reduction act, the chip act is helping that, right? We're going to have to nudge this along, but that's where the job growth is going to come. And that's why it's going to be okay for these companies longer term. Well, there's something really important here. Peter, you're saying that basically this is good for companies, even though, even the returns, even though a lot of people have been talking about higher inflation means higher yields for longer, and that's going to really challenge some of the valuations that we've seen over the past few years. So are you seeing strong returns from both equity and credit over the next 5 years despite higher rates? Yes. I think we have a bit of a shakeout coming right now. We're still having to adjust to this. I think we're going to have a bit of a deflationary scare, but assuming we do the right things. And we start rebuilding our supply chains. We work with countries that are easier to work with. We will see great economic growth. We'll see a much more stable middle class. I think some of this political divisiveness we see will start to dissipate as well. One person who was watching said, where you think real rates need to be longer term in a situation where you have three to 4% inflation. You know, probably in that three to 4% range. I think we don't have to have significant returns. We do need some real returns. I think negative real returns as a disaster. So I think we need to keep it at positive real returns. And we're probably at rates where the fed could leave it alone and we would manage that, maybe even cut over time. Peter here, thank you so much. Greatly greatly appreciate it this morning with academy security, just a nice summation there as we go to the chairman's comments with David Rubenstein in 12 noon. We have not spoken of turkey today, and it's something that all of us are, I'm just absolutely stunned with any experience I've seen where there's earthquakes. I just don't think there's anything that equates in my lifetime to this. Lisa. And the USGS, of course, with their world class, they adjust this number. It's not cast in iron 59 aftershocks off of the original 7.8 earthquake as we went to air this morning. There was a 5.4 aftershock in the last hour or so 4.4, which is smaller, but nevertheless, with those broken buildings as broken people, these small earthquakes aren't to be underplayed. These after shows. It's heartbreaking. And some of the stories there, especially of the area on the border between turkey and Syria that got hardest hit. This one town that was the epicenter gaziantep, was home to 2 million people, including a huge number of Syrian refugees who just had been basically homeless, uprooted from their homes due to the Civil War. How do you dig your way out of this on a real and a figurative sense after such incredible destruction? And the bravery, some of the images we've seen of buildings falling in real time and the bravery of the people trying to make an effort here in the cold has really been something interesting to see how the president addresses his this evening. And just mention it. And just in general, the world kind of helps support some of the real building, especially given the balance of focus right now in other regions. I don't know which to go to chairman Paul's comments or I guess in respect, I'll go to the president. What will you listen for in tonight's State of the Union? The State of the Union, I think that international actually is going to be really interesting with China messaging, especially with what Henrietta trace was talking about in terms of the potential headline risk for certain corporations that lean on China. But also just in terms of how he sets up his campaign, whether he opens the door to anyone else in the Democratic Party, whether he does hue to the center. What are you looking for? I'm going to see if he speaks to the senator from Massachusetts Elizabeth Warren where she says, would everybody stop this elite naval gazing. We are employing America and to me that's the key thing to see how he addresses this stunning unemployment rate. David Weston
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"At the economic picture though and what she was talking about, I mean, it comes off the back of a BOE decision where Andrew Bailey talked about still a recession to come, maybe not as severe as they once thought. It comes with Hu pill talking about the Brexit damage still hovering around the UK. So why come to London and talk about these economic ties given some of the weakness in the UK? The end of studio, I put that too. Why are you in London and why perhaps are you not in Frankfurt or in New York, for example? Look, she was quite as strong on this closer ties between the UK and Japan are about economics. And she talked about the benefits of having this closer relationship. The size and quality of the Japanese economy is enormous and this is the time to utilize more. So I think by using city of manga's network and by using our network and also the asset we can synergize trick or each and the City of London and Tokyo as a great international financial market in HM. Okay, so yuriko koike there. Interesting also, of course, that the former prime minister as I mentioned is trust trying to sort of rehabilitate her premiership is actually going to be giving a big speech in Japan on the 17th of February. But yuriko koike, when I did put it to her, is it economic ties with Britain or is it strategic ties that are most important to Japan right now? Her response was both, and I thought that was really quite telling. So that was my interview with eureko. Koike, it is just a gone now 9 30 a.m., and in a moment, we will update you on the markets. This is Bloomberg daybreak Europe. I would not declare the end of the energy crisis. I think we have a way to go. It certainly doesn't look good if people can't travel around the country. We can't bake in inflation, which is what will happen if we start to get wages spiraling out of control. We're now in a worse place than we were for the 6 months ago. I actually think the biggest risk to markets is that we don't get a recession in 2023. Bloomberg daybreak, Europe. On Bloomberg radio. And it's 9 30 a.m. here in London, good morning. I'm Caroline heparin. And I'm Danny Berger. This is Bloomberg daybreak, Europe. Let's get a quick check on your markets, equities continuing to fall this morning. Perhaps a little bit of geopolitical tension seeping into the trade as well as that red hot jobs number on Friday European equities down by 8 tenths of 1%. Bond yields higher across both European and U.S. sovereign debt. Meanwhile, dollar continues to trade stronger on that story, Euro is weaker by two tenths of 1%. That is trading at one O 7. Caroline. Okay, those are the markets. These are our top stories, the fed's December dot plot remains a good signal of where rates are headed. That's according to the Federal Reserve bank of San Francisco president Mary Daly. Speaking to Fox business, daily called January's jobs report a wow number, but said that it doesn't change her current thinking. This was one report, but we have many data points coming in before the next time we get together. And I think the right now, the most important thing to convey to listeners is that the direction of policy is for additional tightening and then holding that restrictive stance for some time. But how we get there, the tactics, the meeting by meeting decisions, really have to be data dependent. That's what prudent and optimal policy means. Daily does not have a vote at this year's rate setting meetings. However, her view will add weight to market expectations that the hiking cycle is nearing its end, the U.S. economy added 517,000 jobs last month, pushing the unemployment rate to a 53 year low. One of the most powerful earthquakes to hit the Middle East in years has killed scores of people in turkey and Syria and trapped hundreds more. The quake struck before dawn with a magnitude of 7.7 and an epicenter near the Turkish city of gaziantep, authorities have said 284 people were killed in turkey and 237 in Syria with destruction concentrated in border areas that house millions of refugees. Now, onto those tensions between the U.S. and China, Beijing has shifted from expressing regret to threatening retaliation after the U.S. shot down a high-tech Chinese balloon from the sky Bloomberg's Ed Baxter reports on Washington's mission to salvage what officials say is spy equipment from that balloon. Khrushchev and sent off the coast of South Carolina what officials say is shallow water, the government anticipates finding equipment capable of taking detailed photographs along with other sensors uploading them to Chinese satellites, Senate majority leader Chuck Schumer says a session is planned later this week to look at U.S. China relations in some detail. On everything from
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"As well at one 2058. That is your Bloomberg business flash. Now let's get to the Ann garons for a global news breathing. Steven good morning, one of the most powerful earthquakes to hit the Middle East in years has killed schools of people in turkey and Syria and trapped hundreds more. The quake struck before dawn with a magnitude of 7.7 and an epicenter, the Turkish city of gaziantep, authorities have said 284 people were killed in turkey and 237 in Syria with destruction concentrated in border areas that do house millions of refugees. Now the G 7 and EU's $100 barrel price cap on Russian diesel meant to limit Moscow's revenues has taken effect, a G 7 statement says a cap applies to petroleum products trading at a premium to crude. The western grooves also back to limit of $45 for those that sell at a discount such as a few oil and some types of naphtha they will also delay reviewing a $60 cap on a Russian crude and that will be until March. At a bit of showbiz news, Beyoncé is won four Grammy Awards giving her 32 across her career and breaking the record for the most wins of any artist in history. The pop mega star made history as she won best dance electronic album for renaissance, so despite her success Beyoncé was once again locked out of the coveted album of the year award, and that went to Harry Styles. Global news powered by more than 2700 journalists and analysts in over 120 countries, and Leon kerens, this is Bloomberg as Stephen. No, Leanne, we have been playing Beyoncé trivia all morning around this story. It's so far, it's one all. So you mentioned that Beyoncé has not won album of the year. What's the other big flagship award that she has not won at the Grammys? So she hasn't won album of the year, but she's won single of one song of the year. Song of the year. What is it you're confused? Sometimes I do get it right. You haven't dialed into the wrong. Exactly, yeah. Where are we? I don't want to admit defeat, so I'm just going to say one. Fine. She hasn't won. She hasn't won record at the air either. Being nominated for peace with me over the years. Let's get back to the market, shall we? Let's focus on the equity markets. And at the end of last week, the FTSE 100 hit a record high in trading. What does the future hold for you the UK benchmark? Let's talk about that and beyond roger Lee joins as head of UK equity strategy at investor you saved me from the Beyoncé conversation as well, roger for which I am eternally grateful. Could be, could the FTSE 100 then keep climbing? Let's remind ourselves all the usual caveats that's not about the UK economy necessarily. It's about the weakness and Sterling and about global business, but what does it tell us that we saw this strength in the FTSE? Good morning. Thank you. Yes, I think it tells you that the FTSE actually the sectors that the FTSE is most exposed to, which as you know and we've discussed in the past is 45% of the footsie is effectively exposed to financials, energy and materials. What we're actually seeing is that those sectors are seeing a better performance and that's what's driving the FTSE up. In terms of where this could go, again, not a forecast, but the multiple of the FTSE currently trades at around ten and a half times P E. The long-term 20 year average for the FTSE is close to 12 and a half, so you can clearly see a fairly reasonable amount of runway here for the FTSE to rewrite further if the current trends that are driving the FTSE continue. What about then the broader FTSE two 50 more exposed to the economic situation here in the UK, but not indexed that's been having a great time either. Yes, absolutely. I mean, the FTSE two 50 is often categorized as UK PLC index ODS very much more exposed to the UK. UK economy and UK domestic economy, particularly. Actually, the two 50 has had a really good run since it's low in October, and it came under a lot of pressure during that period of the guilt crisis. Really as interest rate expectations shot up if you recall interest rate expectations went above 6% at one point in October. And as those interest rate expectations have come down, so the UK certainly the two 50 has performed quite a lot batteries up around 20% now just over 20% from its lows. Question going forward for the two 50 interest rate expectations seem to be pretty firmly set now. We seem to be getting to the peak of the Bank of England's rate tightening cycle. So your question how much further the two 50 can go from here, but it certainly had a good run over the last three months. What's the underlying performance roger that you think about for the UK economy this year? We heard a pretty gloomy forecast from the IMF, of course. The Bank of England saying will be in recession, but not as bad as they'd previously feared. Bloomberg economics, not sure if we will go into recessions such as the shallowness of the slowdown that they anticipate. What's your base case expectation for the UK? Well, our economists are pretty much in line with where the Bank of England are looking for a relatively shallow and shorter now recessional slowdown. I think the key question here that the market, whether it's in the UK or in the U.S., the market continues to underestimate just the power of the employment market, while the labor market is as strong as it is. It is difficult or the risk is that we won't see a recession. Every single recession since the post war period has been associated with at least 6% unemployment. The unemployment rate in the UK is 3.7% and on Friday the unemployment rate in the U.S. is 3.4. We are a long way a long way or the labor market is a long way from the sort of conditions that would require a recession that you and I would feel. What about then the pricing though within that, I mean, if we look at banks, for example, the prices seem to be very much still expecting a recession from that point of view. Oh, absolutely. And this is one of the one of the opportunities that we think still exists in the UK market is that I think that's an excellent point on the banks. The banks, the majority of the FTSE banks are still pricing a discount to book value. Now, that we dwell too much on that. But what that is implying is some sort of recessionary environment where bad debts and credit defaults start to pick up. Now, if we don't see that as in, we don't see a recession, then you could expect the banks to rewrite and give up some of that recessionary discount that's still priced in. Back to the FTSE 100, how much is it a call on the dollar? Because, you know, and therefore the U.S. labor market, that seems to be where everyone's focus, or all the inflation data due on the 14th of February, I think. Well, there are 75% of the footsie is the usual benchmark of overseas earnings. So that obviously helps and again, as you cited on Friday as a stronger dollar, weaker Sterling helps the foot conversely to the two 50. So there is an element of that at play here. I think the bigger issue for the FTSE is this re rating story. It's the bigger issue is whether the global markets and global asset allocators actually see the FTSE, offering what I think at the moment is considerable value. And if you start to see any S of asset allocation shifts into the FTSE, which I have to say to be fair, have been pretty sparse to date, but if you did start to see some more asset allocation into the FTSE, I think that's going to be the bigger driver going forward. Okay, roger Lee from investec, thank you so much for joining us this morning on the program head of UK equity strategy, great to get your insights and all of those various topics coming up next on Bloomberg daybreak, Europe. We will be a little bit later than usual joined by Charles cape for the London rush ahead of the roundup of all the corporate announcements being made in London a bit of financial services, a bit of breweries, and even a cyberattack. Stay with us for all of that. This is Bloomberg. Welcome. When you go on holiday, there is no finer achievement than doing absolutely nothing. Nothing on the beach, nothing by the pool
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"To research and development to advance weapon systems. One thing that is expected to be looked at is new export controls on sensitive technology to China. In San Francisco, I met Baxter Bloomberg daybreak Europe. Away from the markets, one of the most powerful earthquakes to hit the Middle East in years has killed hundreds of people in turkey and Syria and trapped hundreds more. The quake struck before dawn with a magnitude of 7.7 and an app epicenter near the Turkish city of gaziantep, authorities have said 284 people were killed in turkey and 237 in Syria with destruction concentrated in border areas that housed millions of refugees. In corporate news, the boards of Renault and Nissan have signed off on a deal to rebalance their troubled alliance under the agreement the French carmaker will reduce its ownership of Nissan from 43 to 15% the rest of its current shareholding will be put on a trust which will be slowly sold down, representatives from Renault Nissan and its third part to partner Mitsubishi are holding a news conference in London this morning. 100,000 nurses and 10,000 ambulance staff in England are expected to strike today in what's expected to be the biggest walkout in NHS history. Members of the Royal College of nursing at 61 health trusts are taking action, along with GMB members at 7 ambulance services, both unions are demanding pay talks with ministers, saying the government could have prevented the strikes. Those are our top stories this morning coming up next on Bloomberg daybreak, Europe. We'll be talking to roger Lee head of UK equities drastically out in vast deck as we had that record high in the FTSE 100 last week. The omens, though, not great for the UK's blue chip index for the coming months. We'll also be discussing, of course, the continuing market reaction to Friday's U.S. jobs report stay with us for that markets conversation. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the Bloomberg business week podcast, a conversation with ark investments Kathy wood on Bitcoin, robots, and more. So I think our base case going now is in 5 years, I think roughly 670,000, something like that. And then by 2030, as we see more use cases and more of these insurance policies taken out against this bill and policy regimes are not healthy, we think it could pass a $1 million. Kathy, we don't have a ton of time that I want to make sure to get to a few more of your big ideas in your research for 2023. We've talked about AI. We've talked about crypto. Let's talk about a few more, specifically robotics. What's appealing to you and what's exciting to you, what do you see as investment opportunities for robotics? Well, I think everyone thinks robots have been around forever, and they kind of have, but they've been locked in cages inside auto companies and so what we have now is really the dawn of the age of robotics. It's really going to happen because of battery technology and artificial intelligence. And we're talking about industrial robots. Amazon is adding 1000 robots per day. And by the year 2030, we think they will that Amazon will have more robots than people. Why is this happening? Well, as always with technology, the technology is ready. And even more important, the costs are low enough now. Really, AI battery technology critically important. So we think we're going to see a lot of robots rolling
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"1% stronger than the third day of gains on that index against the Euro if the Euro is down slightly so it's trading at one O 7 87. The pound is flat at one 2056 as well. Oil prices ticking up a bit after the slump over the weekend, brand crude 9 tech to 1% higher at $80 and 63 cents. That is your Bloomberg radio business flash. Now let's get to Liang Aaron's for a global news briefing. Stephen good morning, one of the most powerful earthquakes to hit the Middle Eastern years has killed schools for people in turkey and Syria and trapped hundreds more that quake struck before dawn with a magnitude of 7.7 and the epicenter near the Turkish city of gaziantep, authorities said more than 70 people were confirmed dead and turkey and 111 in neighboring Syria with destruction concentrated in border areas that do house millions of refugees. Now the G 7 and EU's $100 a barrel price cap on Russian diesel mental limit Moscow's revenues has taken effect. A G 7 statement says a cap applies to a petroleum products trading at a premium to crude. The western groups also back to limit of $45 for those at Sal acid discount, such as a fuel oil and some types of naphtha, they will also delay reviewing a $60 cap on Russian crude and that will be until March and Beyoncé has won four Grammy Awards giving her 32 across her career and breaking the record for the most wins of any artist in history. The pop maker star made history as she won best dance electronic album fort renaissance, despite her success Beyoncé was once again locked out of the coveted album of the year award, and that when two Harry Styles, global news, powered by more than 2700 journalists and analysts in over 120 countries, I'm leann gerrans, this is Bloomberg as Stephen. Leon, thank you very much for that. We were discussing Beyoncé's long track record of award winning earlier, going back to 2000 and one was her first Grammy when she was still with Destiny's Child of course as well. But there's been this whole debate over her never having won album of the year or record of the year. She has one song of the year though. Do you remember for what? I'm gonna say that it will be for all the single ladies. Yes. Well done. Was that the right one? That's right. I absolutely love that song. I feel like I nearly got the first trivia question right in the last book. I have to open a new one now. One for one, Steven. Okay, good, good record. Thanks very much, Leanne. Okay, last 5 days jobs numbers have led to a market to replace the terminal rate for the fed above 5% treasury yields jumped across the curve and the dollar strength and joining us now as Zoe Gillespie, whose investment manager at RBC brewing dolphin. Zoe, welcome. Thank you so much for joining us on Bloomberg radio. How do you read Friday's jobs numbers? Is it enough to move the fed's dot plot higher? I think the news and Fridays was quite advertised to market. I think just for the size of the kind of new jobs and I think it came after a wait and see where I think we felt the failure there for maybe going to be kind of easing up and interest rises going forward and to change that we might see some cuts later in the year. But now I think it kind of sort of got into question a little bit more because it was such a big number. The only thing that may come from the market the fact that the kind of average early earnings only grew by 4.4%, which was then slightly the January number. So actually job wage inflation hasn't picked up as much as a number. So I think it's something that will have to see whether it's just a one off who is going to be a pattern. And I think it could potentially have an impact on how we see kind of the same decision going forward. Yeah, I mean, it's certainly very interesting one to watch. But do you think it's enough to bring back a 50 basis point hike at the next meeting? I think it's the kind of I think talk that pertains briefly on a 50 basis point rise. Now it might have been my comfort to market. But I think it's no something that potentially I think the fed for a little week. If this is a passion, but I think it looks less likely that the interest rate rises are going to be and I think it certainly puts it back into question whether we are going to see 25 basis points. So we're going to see 50, but I think if the market's pricing, a higher level of interest rate, then we may see sort of market starting to dress over the coming weeks. Okay. Does dollar strength persist. It was the story of last year, but obviously we've seen softening this year. Yeah, we have seen sort of in this year. And I think the dollar strain had been a bit of a headwind for a lot of years companies as well. And I think certainly we've got a bit of geopolitical change in coming into market. So I think the kind of outlook for the dollar potentially sort of weakening depends on whether we see further interest rate rises unfairly political changes kind of playing out this year. Okay. Let's talk about the outlook then for the Eurozone, we're looking at potentially a divergence in interest rate cuts as the fed's markets pricing in cuts and the fed later in the year. What's that going to mean then for kind of Euro strength and the incumbent effects then on European equities? Well, we have seen obviously the ECB based height last week and I think that there are going to be further rate hikes. So I think it's certainly potentially going to be a bit of a strength and European market for things certainly have been associated in the last year while fullness and we have seen some strength certainly this year I think there's more optimism about the European years ago. And I think in particular, the economy seemed to be stronger than the UK. I think there are data now that the users need to be healthier position than certainly the UK was so I think change they were going to be kind of a lot more streams coming through years ago. After a very difficult year last year, there's a sort of rally and everything at the start of this year. What are you picking out as your key trades Zoe for this year? I think the last week I think was a really interesting week in terms of the kind of big tag when we kind of saw that coming on the back of Microsoft. And I think that in the story of 2022 had been big tech research sale off. And I think the question last week is big tech going to be back. And I think we saw that there was common themes coming through certainly the job cut margin bunch of patients that we call coming through as being a problem. I think certainly the headwinds that change they were going to be in 2022, if we do start seeing sort of into shape flat and change through the dollar, weakening. I think it could be quite interesting. And I also think that there's changed the next growth fees. I think certainly all the earnings calls last week. I think the mention of AI with this huge. I think certainly that alphabet's coal was made to 45 times the Microsoft 39. So I think the potential growth coming through in artificial intelligence was obviously like still fine. So I think it's in a very similar way. So I think we're going to see potentially I think a recovery in the states. I think it's going to be one to watch this year and whether we're going to actually see and you could also face for a lot of tech. Okay. Okay, so we got lesbian investment manager at RBC Bruin dolphin. Thank you very much for your insights on the program this morning coming up next we're going to be talking about the latest gear shift from the Renault Nissan Mitsubishi alliance the carmakers agreeing on a rebalancing of that complicated relationship will have details with Bloomberg's Tama kenzie next. This is Bloomberg. Economics. Chairman Paul looks brilliant finance, the breaking news for you. A share sales. Investment. How much dynamism is there to the economic recovery? The Bloomberg surveillance podcast
Bloomberg Radio New York
"gaziantep" Discussed on Bloomberg Radio New York
"Now from Leigh Anne garon's. Steven good morning, one of the most powerful earthquakes to hit the Middle East in years has killed schools of people in turkey and Syrian trapped hundreds more that quake struck before dawn with a magnitude of 7.7 and an epicenter near the Turkish city of gaziantep. Now, Swiss prosecutors are investigating a data leak involving thousands of former Credit Suisse clients who had reportedly held a $100 billion with the bank, suspected axe under probe include corporate espionage, breaches of trade secrets and violations of banking security laws, and Elon Musk says Twitter is on the right track after a very tough three months. In a tweet, the billionaires has the company is trending to break even after he had to save it from bankruptcy, Musk says he had to juggle the rescue of the social media platform and handle responsibilities at both Tesla and SpaceX. Global news powered by more than 2700 journalists and analysts in over 120 countries, I'm neon garands, this is Bloomberg, Caroline. Thank you so much. I'm going to come up next, my interview with the governor of Tokyo and London's lord mayor about the two financial centers working together. This is Bloomberg. Bloomberg radio on demand and in your podcast D on the latest sound on podcast I talk with China expert Craig singleton about the Chinese surveillance balloon that's hanging over the U.S. and how it may impact relations between Washington and Beijing. There are those that argue that The White House should not let this one incident derail ongoing efforts to put a so called slower in the relationship. But I think those commentators are sort of missing the point, right? This incident is not a one off. It's broadly consistent with China's increasing belligerence over the last few months. And this latest crisis, I think, further calls into question this sincerity of China's professed desire to improve the relationships. At the time when Washington was more or less offering a diplomatic offering overall, like I said, I think the administration was justified in postponing the trip and the onus is now on China to explain its actions and ultimately rain in its problematic irresponsible behavior. And after that, the two sides can potentially sit down. So long as that eventual engagement is consistent with the principles of strict reciprocity and of course it should be in the U.S. national interest. The president was briefed about this on Tuesday. So he's known about it for several days, but they watch this come all the way down the coast of Canada. So yeah, I mean, you can go online and there are so called Santa trackers for this thing. And you can see it buzzed across Alaska and I mean, you could draw inferences of how it's fee lined directly towards our minuteman. ICBMs and Montana and we're sort of going from there. But I do think that it's a little misguided to think that this issue is just going to blow over pun intended. The domestic uproar involving this provocation. I don't think is likely to subside any time soon. There are a few issues that unite Democrats and Republicans more than countering China
Podcast RadioViajera
"gaziantep" Discussed on Podcast RadioViajera
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Serienweise - Der Serien Podcast
"gaziantep" Discussed on Serienweise - Der Serien Podcast
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