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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
news when you want it with bloomberg news now i'm amy morris bitcoin slide continues now below 67 000 as negative momentum deepens across cryptocurrencies driven by volatility in tech equities and precious metals bitcoin has hit its lowest level since november of 2024 and is down about 45 from its october high bitcoin is now down more than 10 and holding around 65 000 dollars
Qualcomm CEO Cristiano Amon discussed the impact of memory constraints on the company's outlook after the largest maker of smartphone processors gave a tepid revenue forecast for the current quarter.
The industry is now defined by the availability of memory that is going to be available for consumer electronics. And it creates a sudden change in how OEMs look at their build plan. And they say, look, I have to size the size of the market, not based on demand, but the memory that I can get for consumer electronics.
Qualcomm CEO Cristiano Amon on Bloomberg Tech. Shares of Qualcomm now down about 8%. Anthropic is releasing a new version of its AI model, Cloud Opus 4.6, designed to carry out financial research and other work-related functions. The release of Opus 4.6 has caused shares of financial services companies to slump, with companies like FaxSet Research Systems and S&P Global turning sharply lower.
The week-long sell-off in technology stocks and cryptocurrencies shows no signs of slowing down. Wedbush Securities Managing Director Dan Ives is advising traders to keep a cool head. You'll have these moments four or five times in a year. This is not the end of the AI trade. To me, it's like, look at earnings season, look at structure, look at monetization.
Dan Ives with Wedbush on Bloomberg Surveillance. Weak jobs data and anxiety around the AI trade has exacerbated concerns that have cut about a trillion dollars off of NASDAQ 100 valuations in just one week. We check the markets for you all day long here at Bloomberg. The S&P 500 down more than 1 percent. NASDAQ down 1.4 percent. The Dow down about 1 percent.
The 10-year Treasury yield at 4.2 percent and the 2-year yield at 3.47 percent. Hims & Hers says it is expanding its weight loss offerings, adding a needle-free option based at $49 for the first month. The pill has the same active ingredient as Novo Nordisk's Wegovi. Novo's shares are now nearly 8% lower and Eli Lilly's shares are more than 8% lower.
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Chapter 2: What is the current state of Bitcoin and its recent price drop?
Is it another worrying sign for the labor market? More people filing for unemployment last week than economists expected. Bloomberg's Michael McKee.
A big jump in jobless claims last week to 231,000. The initial claims four-week moving average is at 212,000. And the continuing claims number rises as well to 1,844,000. So jobless claims up last week.
Bloomberg's Mike McKee reports the massive snowstorm in the South and East Coast last week could have affected those numbers. And the outplacement firm Challenger Gray and Christmas released its report on job cut notices this morning. 108,435 job cuts for January. That's the highest total for January. since 2009. And Jolt's data came in lower than expected.
The layoffs level was higher than forecast. U.S. job openings fell to the lowest level in more than five years to 6.5 million in December. That's the lowest since September of 2020. Democratic leaders presented their list of demands for reform of immigration enforcement, including that federal agents stop wearing masks. Congressman Brendan Boyle.
The officers here in Philadelphia and indeed every community in the country, they don't wear masks. They're professionals. Their faces are visible. Why is ICE any different? Why is ICE acting like they're somehow above the law? Why should they get special treatment?
Immigration enforcement has lost public support because of overzealous tactics, but New York Republican Nicole Malliotakis tells Balance of Power that deportation of criminals is still necessary.
ICE has really no choice but to go in the municipalities and fine these perpetrators. Why?
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Chapter 3: How are memory constraints affecting Qualcomm's outlook?
Because these local municipalities are not cooperating. New York City's not cooperating. Minneapolis is not cooperating. We used to be able to have ICE in Rikers Island, and they would take the criminals directly from there upon release from jail and go into federal custody.
Congressman Boyle and Congresswoman Nellie Atakis were guests on Bloomberg Balance of Power. With the U.S.-Russia nuclear pact expiring, President Trump is renewing calls for a new, stronger pact instead of extending the current agreement known as the New START treaty. Trump posted on social media that, quote, we should have our nuclear experts work on a new, improved and modernized treaty.
Trump has previously indicated he would like to keep limits on nuclear weapons but wants to involve China in a potential new treaty. And President Trump says Japan's prime minister is coming to Washington. Trump posted on social media that Sane Takaichi will be at the White House on March 19th. The search for Nancy Guthrie continues.
Investigators believe the 84-year-old Guthrie is still out there. They have not identified any suspects. Heath Yonke is the FBI special agent in charge.
We're going to start today by announcing a $50,000 reward for information leading to the recovery of Nancy Guthrie and or the arrest...
and conviction of anyone involved in her disappearance. Police say DNA tests showed the blood found on Guthrie's front porch was hers. That's news when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.
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