Good morning. I'm Brian Curtis. Here are the stories we're following today. The major topic of US diplomacy in the Middle East today was the possibility of some sort of pause in the region, along with the fact that it looks like the war is widening in the Middle East that Baxter is covering. Historian has more from San Francisco.
Ed, Yeah, let's start with a widening. This Israel's up military. It says it's exchanging fire with Hamas and has the law in Lebanon. Israeli troops encircled Gaza. US Secretary of State Anthony Blincoln has finished that part of his trip in Turkey.
He've engaged the Israelis on steps that they can take to minimize civilian casualties. We're working, as I said, very aggressively on getting more humanitarian sistance into Gaza, and we have very concrete ways of doing that, and I think you'll see in the days ahead that that assistance can expand in significant ways.
And has talked about tactical pauses. That is what the US is calling them, and it says the President Biden has talked with Israeli Prime Minister Benjamin that and Yahoo today about how to do that. The United Nations has issued an emergency appeal for one point two billion dollars in funding to maintain humanitarian support for Palestinians in Gaza, but a US diplomacy has not ended with Blincoln leaving for Asia. Bloomberg's and Marie Hordern.
Bill Burns, head of the CIA, is also in Israel today and is going to be traveling throughout the region. So clearly what you see from this administration is one they want to make sure humanitarian aid is getting into Gaza, and at the same time they also want to make sure that this conflict is not spread throughout the region.
And Ann Marie says the White House maintains the president's military aid to Israel may double its Iron Dome arsenal, that is the fourteen billion dollar aid request. Latest supports are that deaths have passed ten thousand on the Gaza strip. Donald Trump on the stand today in his New York fraud trial, the issue whether he inflated his wealth to get better terms from lenders and insurers. Bloomberg Legal editor Tony Lynn says Trump gave about swinging from the start.
We've often seen you know, you know, once people are under oath, they'll take a more measured sort of approach. His sons, for instance, when they testified, they were sort of much more moderate in tone than I guess some of the rhetoric they've said. But I think Trump has not. I didn't mince any words in terms of how he feels about this proceeding.
And Tony said they really didn't seem to get a lot out of that.
Of course. Yeah, the judge put it well, he said it was essentially the broken record all this. He repeated sort of a lot of his talking points about how the whole thing was unfair. Everyone was happy with him, the banks, no one was hurt by his statements of financial condition. And that's what he said a lot of where he's basically said, you know, they made these loans, didn't matter what these statements said. They all made money from it.
Yeah, but Attorney General, let teacher James said, they got what they wanted.
He rambled you, he hurled insults, but we expected that at the end of the day, the documentary evidence demonstrated that, in fact, he falsely inflated his assets to basically enrich himself and his family.
And she says very apparent to the judge who makes a final decision to that point, Farmer Prosecutor for the Southern District of New York, Jessica Roth, says, a lot.
Of states, and so really what remains to be decided is the amount of disgorgement of profits and also what the remedy should be in terms of perhaps permanently enjoining Trump and his family members from doing business in the state of New York.
And Trump to think.
That we're being sued and spending all this time and money, and you have people being killed all over the world.
That this country could stop. Ivanka Trump on the stand on Wednesday, Global News twenty four hours a day, whenever you want it with Bloomberg News Now in San Francisco. I'm at Baxter and this is Bloomberg.
Well, we take a look now as some of the top business stories of the hour. US Treasury Secretary Janet Yellen and Chinese Vice Premier Holy Fung will hold two days of talks in San Francisco this week. The story from Bloomberg's Joan Wong.
The Treasury Department says Yellen and her Beijing's top economic official will meet on November ninth and tenth, The meeting will take place on the sidelines of the Asia Pacific Economic Cooperation Group, the Yellen Her talks are expected to build on a series of recent visits and announcements between the two sides. They're trying to improve diplomatic and economic ties. Some of the issues likely to be addressed include US export controls in Chinese military engagement in the South China Sea.
The us AS is not seeking to decouple from China, but rather it's looking to de risk and diversify. Chinese officials have criticized that message. In Hong Kong, Join Wang Bloomberg Radio, We're go.
To China next and Australia's Prime Minister Anthony Albanesi has met with Chinese President Sijiping in Beijing. Albanese is the first Australian leader to visit China in more than seven years. The meeting may go a long way to improving diplomatic relations between the two countries. She told Albanzi that quote, with joint efforts on both sides, we've been resuming our
exchanges and various views and worked out some problems. Albanezi, meanwhile praising the mature relationship between the two nations.
Australia, along with other countries in the region, has an interest in continued stable growth in the Chinese economy and its ongoing engagement.
With the world.
And I believe that we can all benefit from the greater understanding that comes from high level dialogue and people to people links, and that a strong relationship between our two countries will be beneficial into the future.
That is Australian Prime Minister Anthony Alberanzi. Overall relations between Australia and China have improved over the past year. High level of ministerial meetings have restarted, and Chinese restrictions on imports of Australian coal, timber and bali have all been lifted.
Brian Well, China's second biggest developer, has been given a lifeline by its biggest shareholder and a local regulator. Bloomberg yvon Mann has the story from Hong.
Kong, China. Wonka says it will repay its debts on time after getting key signals of support. Shenjed regulator Assets Supervision and Management Commission said it has confidence in Wanka. The regulator said it will support the developer if it faces extreme conditions. The comments are made during an online meeting on Monday attended by financial institutions. Also, Wanka's largest shareholder, Shenjen Metro Group, said it had no plans to cut
its steake. Wonka dollar bonds surge as much as twelve cents, putting some on pace for record gains. The expressions of support are rare for distressed developers in China. In Singapore, I'm yvon Mann Bloomberg Radio.
Decision Day for the Reserve Bank of Australia. It's going to issue its monetary policy decision at two thirty pm Sydney time. That's in just over four hours. Most economists forecasting the IBA to lift the cash right by twenty five basis points at that meeting after the third quarter of CPI print came in hotter than expected. And this comes even though the RBA's lifted rates by four hundred basis points since April twenty twenty two, and that is
the fastest pace of tightening in the inflation targeting era. Inflation, though proving stickier than expected. Bloomberg Economics has got an out of consensus call for the RBA to stay on hold four point one percent, which forecasts will be enough to return inflation to the two to three percent target ban by twenty twenty five. But whatever the RBA does today, that hawkish bias going to remain in place.
Brian Yep Gordman Sachs is boosting pay incentives for its asset management teams. Let's get that story from Bloombergs and Keats.
The changes instituted over the past several months will lift the share of profits available for teams directly responsible for the performance of Goldman's alternative investment funds. The share of performance awards usually gets divvied up between employees and the bank's own accounts. Under the new structure, investing teams will
receive forty to fifty percent of the pool. Goldman oversees two hundred and sixty seven billion dollars in fee earning alternative assets in Washington and Kate's Bloomberg Radio.
All right, at the time is twelve minutes passed. Oh I wanted to mention that China Wanka did trade up seven and a quarter percent yesterday after that news emerged here in the Hong Kong market. For the details later in the program. Well, let's say good morning our time too. Daniel Flatley, Bloomberg national security reporter to talk a little bit more about some of these developments in the Gaza war. So President Biden discussing this notion of a tactical pause
with the Israeli Prime Minister of Benjamin Netanyahu. I suppose it for nothing else. I mean, it's always good to have a little pause, but if for nothing else, just to get more trucks in. I think I read that only about two dozen relief trucks made it into Gaza in the last twenty four hours.
Yeah, Brian, you know, these discussions are sort of ongoing, and obviously we had US Secretary of State Anthony Blincoln in the region earlier today. I think you know what Biden's pleas are running up against is Israel's desire to not give Hamas a chance to breathe, a chance to regroup, a chance to seize some initiative and maybe take the
fight back toward Israel. They're really trying to from what we've seen, Israel I mean, is trying to sort of cordon off that northern part of Gaza, especially around Gaza City, and try to go basically house to house, street to street to try to root out some of the Hamas militants, and I think that the thinking is, at least on the Israeli side, that if you pause that operation for any you know, significant period of time, that you only
give your enemy a chance to regroup and strike back. Obviously, the US feels somewhat differently about that, and I think that there's a humanitarian argument that they're trying to make to the Israelis about that. But you know, a very complicated situation.
Yeah, of the work of going block to block, house to house, there is the issue of the tunnels as well. Ours the Israeli military handling that well.
Obviously we know that you know, over the last several weeks they've bombarded that area with air strikes, artillery, other forms of heavy weaponry to sort of soften that area up, so to speak. But as you say, you know, tunnels are underground and built that way for that purpose to shelter from from that kind of bombardment. So in terms of the tunnels, it's very hard to figure out where
they are, where the locations are. You know, Secretary of State Blincoln made some comments sort of talking about you know, they may have looked at the tunnels issue. The US may have looked at the tunnel issue to a certain extent, But I think basically what they're trying to do is as much as possible contain the conflict to that northern part of Gaza in order to really root out the Hamas leadership that may be sheltering in that area.
But as At Basha reported a few moments ago, and as we know, the Israeli military said that it exchanged fire with Hesbelah in Lebanon along with AMAS, so it would seem that things are still in the expanding mode.
Yeah, I think that that is going to continue to be the case for a long time to come. You know, not only is there the risk of an expanding conflict to the north, but also you know, we've had some strikes against US troops in Iraq and Syria and other places. So I mean, clearly there is a desire to as Israel is Israel's enemies. I guess we could say, as
Israel is getting more deeply involved in Gaza. You know, Hesbela and others are seeking to take advantage of that by potentially opening up another front that hasn't happened yet to a great degree. But there's certainly some probing aspects to what they're doing there.
We've had this denial from the US as well that an Iranian report that it's seeking a cease file. But what sort of back channels exist between the US and Iran? Can we expect that there are conversations happening, Well.
There's always some form of communication happening, especially now considering the Biden administration prior to this recent conflict, was trying to resurrect some form of nuclear deal with Iran. So I'm sure that there are diplomats that are talking back and forth on the back channel to Iran. But I think that a lot of this is playing out obviously in public. We had the Iranian Foreign minister a couple of weeks ago talking about the potential for the conflict
to expand. The US is very aggressive in terms of sanctions and things that it's trying to do on Iran. So I think that there's a bit of a chess game going on here, where you may have some diplomacy that's going on behind the scenes, but really a lot of tough rhetoric in order to sort of keep a lid on this conflict. Whether that will be successful in the long run, you know, we don't know at this point.
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