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Thursday, January 23, 2025

Trump to Hannity: Can deal to keep China out of Taiwan, make ‘absolutely certain’ Iran doesn’t get nukes

 President Trump is confident he can negotiate an agreement with China to prevent an invasion of Taiwan and cut a deal with Iran that would stop it from obtaining a nuclear weapon. 

Trump, 78, described China as a “very ambitious country,” and the communist nation’s leader, Xi Jinping, as “very ambitious man,” during the second part of an interview with Fox News host Sean Hannity that aired Thursday, before arguing that the US is in a good position to keep the CCP from expanding its territory. 

“I can do that because we have something that they want,” the president said. “We have a pot of gold.”

Trump’s appearance on Sean Hannity’s Fox News show, taped Wednesday, was his first television interview as the 47th president.Fox News

Trump suggested that tariffs would be key to his dealmaking process with China. 

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“You know how much money we lost to China last year? $1 trillion,” he told Hannity, slamming the Biden administration’s “stupidity with their trade policies.”

“We have one very big power over China and that’s tariffs,” Trump continued. “And they don’t want them, and I’d rather not have to use it, but it’s a tremendous power over China.”

“China gets a lot of its money from the United States. They use that money to build a military,” he explained. 

Trump further revealed that his phone call with Xi last week was “friendly,” describing it as a “very good conversation.” 

“We’ve had other communication before that,” he acknowledged, noting that he had a “very good relationship” Xi in his first term. 

Trump suggested that he could leverage tariffs against China to keep the country out of Taiwan.via REUTERS

“Iran is a different story,” Trump said of the other main US adversary. “Iran, is a whole different thing. That’s a religious deal. That is very dangerous.”

Trump refused to telegraph whether he would support pre-emptive strikes on Iranian nuclear facilities but was adamant the Islamic Republic “can’t have a nuclear weapon.” 

The president, however, claimed that he was “within one week” of striking a deal with Iran by the end of his first term and still believes a treaty can be signed that would make it “absolutely certain” the country doesn’t obtain nuclear weapons. 

“There are ways that you can make it absolutely certain if you make a deal … you have to verify times ten,” Trump said, before reiterating that he would never allow Iran to get ahold of a nuke.  

Trump maintains that Iran cannot be allowed to obtain a nuclear weapon.ZUMAPRESS.com
“If they get one you’re going to have everyone else getting them and then the whole thing is going to be a disaster,” he argued. 

At the end of his sitdown with Hannity – Trump’s first television interview as the 47th president – the commander in chief indicated that “it feels good” to be back in the Oval Office “because I want to solve some problems that really have developed” since the end of his first term. 

https://nypost.com/2025/01/23/us-news/trump-says-he-can-strike-deals-that-would-keep-china-out-of-taiwan-and-make-absolutely-certain-iran-doesnt-get-nukes/

Trump challenges BofA CEO Moynihan: 'I hope you start opening your bank to conservatives'

 President Donald Trump confronted Bank of America (BAC) CEO Brian Moynihan Thursday over a claim gaining traction in conservative circles: that customers are being ‘de-banked’ for their personal beliefs.

“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America,” Trump told Moynihan during a virtual question and answer session at the World Economic Forum in Davos, Switzerland.

The president also appeared to include JPMorgan Chase (JPM) CEO Jamie Dimon in his confrontation. JPMorgan and Bank of America are the nation’s two largest banks.

“I don't know if the regulators mandated that because of Biden or what, but you and Jamie and everybody else, I hope you open your banks to conservatives because what you're doing is wrong,” Trump added.

Brian Moynihan, CEO of Bank of America, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman
Brian Moynihan, CEO of Bank of America, attends the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman · REUTERS / Reuters

The exchange, which Moynihan sidestepped without addressing the issue, resurfaced a concern Trump raised during his 2024 campaign.

The issue remains relevant as the GOP takes over all of Washington, D.C. The lawmakers assuming leadership roles at key financial committees in the Senate and House have hinted that they want to examine de-banking further in the months to come. Acting FDIC chairman Travis Hill also identified the issue as a priority.

The crypto world has also latched on to de-banking as a key issue it wants to see addressed by Washington.

Weeks after Trump’s election win in early November, Silicon Valley billionaire and venture capitalist Marc Andreessen claimed on a podcast that the US government had pressured banks to close certain accounts connected to crypto and other tech industries. Many in the crypto world supported Trump and other GOP candidates, hoping they would push for more favorable regulation of their industry.

Banks, however, have pushed back repeatedly on the idea that they are denying customers of a particular political stripe.

When asked about Andreessen's claims during a Chase podcast interview published earlier this week, JPMorgan's Dimon said, "We have not de-banked anyone because of political or religious relationships, period."

What Dimon instead argued is that US rules such as the Bank Secrecy Act discourage banks from dealing with customers that are considered high-risk — and that there needs to be clearer regulation on that front.

"Where Mark is right is all these examples where they put a lot of pressure on us, and they tell us what it's high risk, and if we don't de-bank someone and something goes wrong, it could be hundreds of million dollars of fines. So a lot of banks are kind of guessing," Dimon added.

WASHINGTON, DC - OCTOBER 24: JPMorgan Chase CEO Jamie Dimon speaks at The Institute Of International Finance annual membership meeting at the Ronald Reagan Building on October 24, 2024 in Washington, DC. Dimon spoke on JPMorgan Chase's expansion into Africa, global trade and financial technology. (Photo by Kevin Dietsch/Getty Images)
JPMorgan Chase CEO Jamie Dimon. (Photo by Kevin Dietsch/Getty Images) · Kevin Dietsch via Getty Images

"We don't bank marijuana companies because there's no federal law around it, we simply can't follow the law. If there's a federal law, we probably would, and we do, bank some crypto companies, and very carefully. We are responsible in the law to fight sex trafficking, money laundering, tax avoidance," Dimon said.

Last April, Republican Kansas Attorney General Kris Kobach and 14 other Republican AGs sent a letter to BofA's Moynihan that claimed the bank appeared to be "conditioning access to its services on customers having the bank’s preferred religious or political views."

Bank of America denied the claims at the time. In a new comment Thursday after Trump’s comments to Moynihan, a spokesman said "we serve more than 70 million clients, we welcome conservatives and have no political litmus test."

"We responded to the AGs last May and assured them that religious and political beliefs are never a factor in any decisions related to clients’ accounts."

A JPMorgan spokesman said Thursday that "we have never and would never close an account for political reasons, full stop."

"We follow the law and guidance from our regulators and have long said there are problems with the current framework that Washington must address. We welcome the opportunity to work with the new administration and Congress on ways to remove regulatory ambiguity while maintaining our country’s ability to address financial crime."


https://finance.yahoo.com/news/trump-challenges-bofa-ceo-moynihan-i-hope-you-start-opening-your-bank-to-conservatives-190534911.html

Venezuela loses appeal of $8.5B ConocoPhillips arbitration award

 An international arbitration court upheld an award that ordered Venezuela to pay ~$8.5B to ConocoPhillips (NYSE:COP) over the expropriation of its crude oil assets in 2007, Argus reported Thursday.

The World Bank's International Centre for the Settlement of Investment Disputes rejected Venezuela's appeal, which was based on various arguments over the costs awarded.

"The decision upholds the principle that governments cannot unlawfully expropriate private investments without paying compensation," the company said of the ruling.

Venezuela's latest appeal with ICSID came after a U.S. federal court in 2022 cleared ConocoPhillips (COP) to try to collect the $8.5B award, which has an annually compounded interest rate of 5.5%.

Collection of the award seems unlikely, given the multiple claims in international courts totaling more than $60B against Venezuela, whose international assets are dwindling.

https://www.msn.com/en-us/money/markets/venezuela-loses-appeal-of-8-5b-conocophillips-arbitration-award/ar-AA1xKU5t

Indian drugmaker Dr Reddy's shares slide after Q3 profit miss

 Shares of Dr Reddy's Laboratories dropped 6% in early trade on Friday, a day after the company reported a third-quarter profit that fell short of market estimates due to lower sales and pricing pressures in the key North American market.

The generic drugmaker's shares were on track for their worst day in nearly nine months and were the top loser on the benchmark Nifty 50 index, which was 0.3% higher.

Indian generic drugmakers are struggling with slower sales in the United States, delayed approvals for new drug applications and lower pricing amid stiff competition.

At least four brokerages slashed price targets on Dr Reddy's stock, while three cut their ratings, LSEG data showed.

https://www.marketscreener.com/quote/stock/DR-REDDY-S-LABORATORIES-L-6492671/news/Indian-drugmaker-Dr-Reddy-s-shares-slide-after-Q3-profit-miss-48857310/

Bank of Japan raises rates to highest in 17 years

 Japan's central bank has raised the cost of borrowing to its highest level in 17 years, as it tries to curb rising prices.

The move by the Bank of Japan (BOJ) to raise its short-term policy rate to 0.5% comes just hours after the latest economic data showed prices rose last month at the fastest pace in 16 months.

The BOJ's last interest rate hike in July, along with a weak jobs report from the US, caught investors around the world by surprise, which triggered a stock market selloff.

The bank's governor, Kazuo Ueda, signalled this latest rate hike in advance in a bid to avoid another market shock.

According to official figures, core consumer prices in Japan increased by 3% in December.

Last year, the BOJ raised the cost of borrowing for the first since 2007.

The decision came as some of the country's biggest corporations increased salaries for their workers to help them cope with the rising cost of living.

Wages in the country had flatlined since the late 1990s as prices rose very slowly or even fell causing policy makers to stick to an ultra-loose monetary policy until after the pandemic.

https://www.bbc.com/news/articles/cpqln2gwvxlo