Act of Terror, South Korea's Failed Presidential Arrest, & Nick Clegg Logs Off
Jan 3, 2025
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Derek Wahlbank, Bloomberg's senior editor with expertise in U.S. security issues, discusses the ongoing FBI investigations into the New Orleans and Las Vegas attacks, emphasizing their lack of clear connections. He also covers the chaos surrounding the attempted arrest of South Korea's impeached President Yoon Suk Yeol, highlighting protests and security challenges. Another intriguing topic is Nick Clegg stepping down at Meta, which signals potential shifts in corporate dynamics during a politically charged time.
The FBI's investigation into the New Orleans and Las Vegas attacks highlights growing national security concerns as public events approach.
Resistance against South Korean investigators trying to arrest impeached President Yoon Suk-yeol underscores the complexities of political accountability in turbulent times.
Deep dives
Investigations into US Terror Attacks
The FBI is investigating two deadly attacks that occurred in New Orleans and Las Vegas, with the former being treated as an act of terrorism. The suspect in New Orleans, identified as a supporter of ISIS, acted alone in an assault that resulted in multiple casualties. Investigators found no direct links between the incidents despite similarities such as the use of rented vehicles and military backgrounds of the suspects. This investigation raises concerns about security measures for upcoming public events, particularly with the presidential inauguration approaching.
Political Turmoil in South Korea
In South Korea, anti-corruption investigators faced significant resistance while attempting to arrest impeached President Yoon Suk-yeol amid ongoing political turmoil. Thousands of supporters gathered at his residence, resulting in a standoff that forced investigators to withdraw. The arrest attempt stems from Yoon's declaration of martial law, which led to his impeachment, and he has consistently refused to appear for questioning. The situation remains tense as the investigation continues, with a valid arrest warrant still in effect.
U.S. Market Reactions and Tech Restrictions
The U.S. market's reaction to recent political events has been mixed, with significant attention on potential economic implications from rising taxes on minimum wage jobs and technology restrictions. New research indicated that payroll taxes for minimum wage workers in the UK are set to double over the past decade, raising concerns among businesses about the repercussions on employment and wage growth. Additionally, China's potential export restrictions on battery technology could impact global supply chains as it currently dominates production in this sector. These developments highlight ongoing debates around economic policy and international trade relationships in a rapidly changing environment.
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On today's podcast:
(1) Investigators say they haven’t found evidence linking separate deadly attacks in New Orleans and Las Vegas, as the FBI continues to probe two incidents that rattled Americans as they rang in 2025.
(2) South Korean anti-corruption investigators failed to arrest impeached President Yoon Suk Yeol after facing resistance from his security team and about a thousand protesters gathered outside his residence.
(3) President Joe Biden has decided to officially block Nippon Steel's proposed purchase of U.S. Steel, a once-iconic American company whose sale to a foreign buyer he publicly opposed for months, according to two administration officials who were not authorized to speak publicly about the matter.
(4) Meta says Nick Clegg will step down as president of global affairs and named his deputy, Joel Kaplan, as policy chief, elevating a longtime executive with staunch Republican ties ahead of Trump’s second inauguration as US president.
(5) China is planning tougher scrutiny on exports of technology to make battery materials, as Beijing looks to protect its grip on a crucial supply chain amid rising global trade tensions.