Good morning. I'm Brian Curtis. Here are the stories we're following today. Israel and Hamas have agreed to extend the pause in fighting for another ten days, and there are even more developments at Baxter has the story from San Francisco.
Ed, Yeah, two more days, Brian, two more days. Israel says eleven more hostages returned today and says it is approved fifty female prisoners for possible release to Hamas. Now that means until Thursday this week more and follows more negotiations over the release of more hostages and prisoners. Bloomberg's Kaylee Lyons points out any pause is only temporary.
And as we're talking about a ceasefire, temporary one extending for whatever period of time. Again reportedly now an extra two days being tacked onto what was a four day ceasefire. Netanyahu has said repeatedly that at the end of this the war will continue, the fighting will continue. He is going to keep going intel Hamas is eliminated. So right now the ceasefire is still very much temporary, even if it is just a little bit longer.
Yeah, with a pause extension, there are concerns. White House National Security spokesman John Kirby admits it does provide Hamas with an opportunity to regroup. You have to expect the.
Group like Commosit terrorist group, which clearly doesn't abide by laws of war. We try to take advantage of any pause in the fighting for their own benefit. So we're watching that closely as well as our Israeli counterparts. You can bet that they're watching that closely.
But that said, he says, the US would like to see continued hostage release.
We would, of course hope to see the pause extended further, and that will depend upon Hamas continuing to release hostages.
Yeah, And Secretary of State Anthony Blincoln says he will go back to Israel this week, his third visit since the war began, and we'll tie it to a visit to Dubai for a COP twenty eight. So how does this affect the Israeli aid calculus in the US? Well, that is, Congress has expected a resumed debate this week. Bloomberg's Jordan Fabian says, up in the air.
That's a shift before in the beginning, when this is first proposed, said you know, we're going to help Israel and no streets attached. But since then this offensive has taken place in Gaza, a lot of Pala sittings have died, Whole cities have been leveled, and so the mood has turned among Democrats. They want to see some concessions here. But then the calculus get tough because Republicans don't want to see concessions.
And Elon Musk has been on Israel, touring and talking with Prime Minister Benjamin Nette. Yahoo Bloomberg's ed Ledlow.
Musk said that he'd like to help rebuild Gaza at the conclusion of the Israel jamaz war, and you know, he basically said that he was disturbed by some of the images that he'd seen. You're looking at pictures there of Elon Musk with Benjaminette and Yahoo.
Yeah. Musk also visiting Israel in the shadow with an at a Semitic post on X and the loss of a number of high profile advertisers. President Joe Biden, meanwhile, taking credit for easing supply chain pressures and lowering inflation today, says, but more needs to be done.
Let me be clear, any corporation has not brought their prices back down even as inflation has come down. Eating supply chains have been rebuilt. It's time to stop the price gouging given the American consumer a break.
Biden also says he's set up a council review supply chain actions, calling it an early warning system. Global News twenty four hours a day and whenever you want it with Bloomberg News now in San Francisco. I'm Ed Baxter, and this is Bloomberg.
Brian, and thanks very much, with Brian Curtis and Vonnie Quinn of course, said backstraw News. Now, it's time for the top business and economic stories. Saudi Arabia is asking others in OPEK Plus to reduce their oil production quotas we get the story from Bloomberg's and CADS.
Saudi Arabia has been making a largely unilateral supply cut back of one million barrels a day since July and is now seeking further support from other OPEC plus members, but some countries are resisting. The twenty three nation alliance faces pressure to intervene in crude markets following a seventeen percent drop in prices over the past two months. Amid
plentiful stockpiles and a darkening economic backdrop. The oil market could weaken the more in twenty twenty four, with forecasts of a new supply surplus in Washington and Kate's Bloomberg Radio.
Online shoppers are clicking their way to big savings for Cyber Monday, and then this comes as buy now, pay later features or letting shoppers stretch thereabouts. It's with credit. Bloomberg's Spencer Sober says expectations are high.
Earlier they were predicting about twelve billion in sales, and that's from Adobe, which monitors insights from by hundreds of millions of transactions.
Nave up that to twelve point four billion.
Now based on the strength of the consumer on Black Friday into the weekend, they're seeing the consumer being more resilient.
That's Bloomberg's Spencer Sober there. The holiday weekend already saw record online spending. Black Friday sales top analyst projections at nine point eight billion dollars. That's up seven and a half percent from a year ago. The National Retail Federation estimates one hundred and eighty two million people will have shopped in store and online from Thanksgiving Day through the end of Cyber Monday.
Meantime, Amazon's proper hoosed acquisition of I Robot has hit a potential snag in Europe. More from Bloomberg Samuel Stalton.
The European Commission has issued what is known as a statement of objections, and this effectively means that the Commission outlines a series of anti competitive concerns with the merger. It doesn't necessarily prejudge the outcome of the investigation, but it calls upon the firms to address some of those anti competitive concerns or risk the deal being derailed.
That's Bloomberg Samuel Stalton, and the shares were hammered. I'll get to the numbers for you in a moment. Last week, Reuter's had reported that Amazon and iRobot appeared on the cusp of winning unconditional approval from the European Commission. At that time, the stock jumped, but today I Robot shares down seventeen percent, the biggest intra day drop in nearly three years.
Reddit is leading a class of twenty twenty four candidates testing the waters for an initial public offering in the United States. We're told the social media company as again hold talks with potential investors for an IPO, and that IPO could come as soon as the first quarter last year, we reported that Reddit was working with Morgan Stanley and
Goldman Sachs on the listing. Separately, we hear Rubric, a Microsoft backed cloud and data security startup, is also considering holding its IPO as soon as in the first quarter, and we're told Kim Karnashian's Skims underwear label is discussing strategy options, including an IPO that could come as soon as next year.
And The Wall Street Journal reported just an hour or so ago that the fast fashion Chinese company shu In has confidentially filed for a US IPO. Well, China's Central Bank says it will press the country's banks to lower real lending rates. Bloomberg Yvon Mann has the story in Hong Kong.
The Central Bank's position is clear. Deflation has effectively pushed up borrowing costs in price adjusted terms, and that has stow concerns that real debt burdens will rise, undermining growth. As a result, wants banks to do more to smooth out volatility in their lending activity. That said, in its third quarter Monetary policy report, the PBOC played down concerns about deflation. It said, don't read too much into single
month credit data. A recent Bloomberg survey showed economists expect China to wait until early next year to lower policy rates after two cuts this year. In Hong Kong, I'm von Mann Bloomberg.
Radio iphonemaker Honhai is expanding its footprint in India with another one point six billion dollar investment. Bloomberg Joan Wong has more from Hong Kong.
Han Hi says a huge budgeted expense will be used for construction projects and what it calls operational needs, but the company did not identify any locations. Honghai is among many firms looking to diversify its business outside of China due to geopolitical concerns. In September, the company set on LinkedIn it planned to double the size of this business in India. Fox Con already operates nine production camp as it's there, and sales in the country run to about ten billion dollars annually.
In Hong Kong.
To end long Bloomberg Radio.
Joining us now on the program is Larry Lieberg, Bloomberg Editor on International Economics and Security team at Bloomberg, to discuss the latest with Israel and Tomas.
Larry.
Great to have you with us. The pause is a good thing. Let's hope it continues. Can we make the jump in saying we don't know what both sides are thinking, but can we sort of guess that both sides are a bit tired of fighting, but there's just no easy way out.
That's exactly true, and they're tired enough at least for the moment that they're extending their agreement to swap hostages for prisoners. And today, as planned, there was another exchange. Eleven freed hostages arrived in Israel, and in the rather elaborate one to three ratio of these deals, thirty three
pound Allestinians were released from imprisonment by Israel. But the lasting impact of this because of the question you suggest, and everybody's founded in their interest to extend this for two more days, so rather than ending tomorrow, it'll go through Thursday. Is there hope after that? Biden and others certainly say so, And they also emphasize the improvement not enough UN experts would tell you, but an improvement in the delivery of humanitarian supplies to Gaza.
How are the calculations made, though, Larry, Because if Israel is declaring that it will not stop until every last Hamas membrance of order is gone, then presumably these prisoners don't have very long right according to Israel's logic.
Well, yes, but Israel's political logic is also that all are almost all of these hostages are Israelis, and there's a very very strong political movement in Israel that they must be brought back, and so that provides an incentive. But yes, Israel said it can't just end this and leave Hamas in place to attack again. And Hamas says it's not giving up. So this clearly isn't a permanent
solution to anything. But the extension of it suggests everybody's interest for the moment in extending it, and that also that everybody's got a spin on this. Prime Minister and Yahoo of Israel his offer. His office issued a statement that Israel will welcome back our eleven abducted citizens will cutter. It, which has served a crucial intermediary role, didn't describe the
as israelis taking us of their dual citizenship. It described these as three French citizens, two Germans and six Argentinians who are released today. So everybody has an angle. Everybody has, so art In said up to continue playing this very important game but there's clearly an end insight at.
Some point, Larry, there's a massive imbalance in those killed. Hamas has some fifteen thousand gosins and Israeli say that twelve hundred Israelis were killed in the initial attacks by Amas. I'm wondering, I just want to get your thoughts on this. I talked about this with Michael Heath, one of our colleagues yesterday. Does that suggest in any way more or less likelihood that Israel would agree to a longer pause?
And if you could also add to that, what does it say about the international position here and the pressure coming from other countries.
Well, I think there is a lot of pressure. Israel would tell you that, first of all, at the beginning of this Hamas, in a surprise attack, killed the most Israelis who were which are murdered since the Holocaust. That's an existential question for them. Response though has not met with the approval of the world community, because they have killed many times that of civilians in Gaza, and they say with with I think clearly some truth that it is in part because Hamas burrows under it has this
extraordinary series of tunnels under the civilian population. But still The idea that they're using such large bombs us applied in many cases, and that it's causing so many civilian casualties have not gained favor in the world community.
Laurie, how much does Hamas know about all of the hostages? So there seems to be suggestion that some are lost or you know.
Yeah, well, they may know that some have died. They also there also have been some indications that are other terrorist offshoots that may have grabbed some of them, and they may not have complete leeway to deal for them. And so we may not get to the end of this even if everyone wanted to keep extending it, with all of the hostages freed and with all of them live. And that's one of the mysteries and one of the sad parts of this whole.
Yeah, you mentioned you mentioned US munitions, and we talked about the imbalance in the number of dead. Are you hearing anything about from Congress or the administration about conditionality being placed on Israel in terms of future conduct of this war.
Well, there certainly have been some questions raised by some Democrats, Liberal Democrats especially, and even I think the President made some passing remark it may not have been quite what some people read into it, suggesting that the US is concerned about providing weapons and how they're used in will
or should play some constraints on it. The problem again is on the other side is I would say we can't get to those underground tunnels, that we can't get to those leaders with lightweight weapons, and that's the great dilemma at this point.
This is Bloomberg Daybreak Asia, your morning brief on the stories making news from Hong Kong to Singapore and Wall Street. Look for us on your podcast feed every day, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each day on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also
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