Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm John Tucker. Here
Speaker 2: are the stories we're following today.
Speaker 3: John, First, major developments this morning involving the war in
Speaker 3: the Middle East. The US has paused a shipment of
Speaker 3: bombs to Israel over worries that Israel's nearing a decision
Speaker 3: to launch a wide ranging military offensive on the southern
Speaker 3: Gaza city of Rafa. We get the details from Bloomberg's
Speaker 3: Mark Champion.
Speaker 4: It's very significant in the sense that the US has
Speaker 4: said that it would be behind Israel all the way
Speaker 4: after the attack on October seventh by Imus, and this
Speaker 4: is the first time where we've seen them use the
Speaker 4: leverage that the US has as an arms supplier to
Speaker 4: try and pressure the Israelis to alter their course in Gaza.
Speaker 3: Bloomberg's Mark Champion says Biden administration officials concerned about the
Speaker 3: damage the bombs could inflict on dense urban settings like Rafa,
Speaker 3: where more than one million displaced Palestinians are sheltering.
Speaker 2: And we want to update you on the latest legal
Speaker 2: cases against Donald Trump. The hush money trial against the
Speaker 2: former president resumes of new York Tomorrow. Yesterday, one of
Speaker 2: the prosecution's key witnesses, the adult film actors Stormy Daniels,
Speaker 2: took the witness stand scathalitis from Bloomberg Law host June Grosso.
Speaker 5: In New York.
Speaker 6: After hearing Stormy Daniel's name countless times. Yesterday, the jurors
Speaker 6: got a chance to hear her testify about a sexual
Speaker 6: encounter the adult film actress says she had with Trump
Speaker 6: in two thousand and six, although Trump denies it. Daniel's
Speaker 6: account often included graphic and salacious details, so much so
Speaker 6: that the defense asked for a mistrial, arguing that her
Speaker 6: testimony had gone too far and prejudiced the jury. The
Speaker 6: judge denied the mistrial in New York, June Grosso Bloomberg Radio, all.
Speaker 7: Right, June, thank you.
Speaker 3: Meanwhile, the federal judge in Florida for presiding over former
Speaker 3: President Donald Trump's classified documents case has cancer the May
Speaker 3: twentieth trial date, postponing it indefinitely. US District Judge Alien Cannon,
Speaker 3: who is appointed by the former president, has come under
Speaker 3: intense criticism for failing to make timely decisions and for
Speaker 3: issuing rulings that favor Trump.
Speaker 2: And sticking with the legal news, a long fight may
Speaker 2: be in store over the future of TikTok, the video
Speaker 2: sharing app, suing over the new law aimed at forcing
Speaker 2: its Chinese owner, Byte Dance to sell it. TikTok says
Speaker 2: the law would stifle users free speech, but former Treasury
Speaker 2: Secretary Steve Manushan says he still wants to buy TikTok.
Speaker 2: He thinks he can replicate the app's secret sauce it's
Speaker 2: video recommendation technology.
Speaker 8: I do believe the algorithms could be rebuilt, So my
Speaker 8: plan if we were to purchase it would be to
Speaker 8: rebuild the technology under US leadership, make sure that it's
Speaker 8: all disconnected from by Dance going forward, and that it
Speaker 8: is very ro Boston secure.
Speaker 2: Former Transferry Secretary Steve Manushan spoke with Bloomberg for the
Speaker 2: Milken Conference of Beverly Hills of the TikTok loss ay
Speaker 2: the current algorithm could put Chinese government propaganda on users feeds.
Speaker 2: Both TikTok and Beijing deny that.
Speaker 3: And sticking with technology John, The US is said to
Speaker 3: have provoked licenses allowing Qualcom and Intel to sell semiconductors
Speaker 3: to China's Huawei Technologies Bloomberg. Steve Potis has more from Washington.
Speaker 1: Sources say the move effects sales of chips for Huawei's
Speaker 1: phones and laptops. The move is key to preventing China
Speaker 1: from developing advanced AI. The US is also considering sanctions
Speaker 1: against six Chinese firms that could also supply chips to Huawei. Meantime,
Speaker 1: Saudi Arabia's investment fund for chips and AI said it
Speaker 1: would divest from China if Washington asked it to do so.
Speaker 1: In Washington, Steve Podisk Bloomberg Radio.
Speaker 2: Ry Thanks Steve, and some positive news for Apple out
Speaker 2: of China this morning. Chinese iPhone shipments jumped about twelve
Speaker 2: percent in March after Apple and its retailers slashed prices.
Speaker 2: That's about from a thirty seven percent slump in the
Speaker 2: first two months of twenty twenty four. The stock is
Speaker 2: up two thirds of a percent in early trading.
Speaker 3: Well John Heading to space or not. The first crude
Speaker 3: mission for Boeing's Starliner space capsule is going to be
Speaker 3: grounded a little longer. The initial flight was scheduled two
Speaker 3: days ago, it was scrapped for a technical issue. Now
Speaker 3: it's been pushed back to at least May seventeenth, and.
Speaker 2: Turning to the economy, the Minneapolis Fed President Neilkush Curry
Speaker 2: says interest rates are likely to be camp where they
Speaker 2: are for an extended period of time. Coush Curry says
Speaker 2: more data is needed to know whether the progress on
Speaker 2: getting inflation back to the two percent target has stalled.
Speaker 8: The second half of twenty twenty three surprised us at
Speaker 8: how rapidly inflation fell. That was really good news, and
Speaker 8: the economy remained strong. We all hoped that was going
Speaker 8: to continue. The first quarter of this year, it seems
Speaker 8: like it's stalled out.
Speaker 2: Gush Curry added that a rate cut this year is
Speaker 2: quote certainly still a possibility. He made the comments to
Speaker 2: Bloomberg at the Milkin Institute Global Conference in Beverly Hills.
Speaker 3: Now, while investors in the US debate when the FED
Speaker 3: cuts rates, John and other central banks already making a move.
Speaker 3: Sweden's reeks Bank cut its benchmark rate for the first
Speaker 3: time in eight years. The central Bank in Stockholm lowered
Speaker 3: the policy rate by a quarter points to three point
Speaker 3: seventy five percent, said it could be reduced twice more
Speaker 3: in the second half of this year.
Speaker 2: Add some good news this morning for customers of the
Speaker 2: bankrupt crypto exchange FTX. They're said to get full recovery
Speaker 2: of their funds. Let's get details from Bloomberg's Doug Krisner.
Speaker 9: FTX has amassed billions of dollars more than it needs
Speaker 9: to cover what customer's lost when the exchange collapsed in
Speaker 9: November twenty twenty two. The extra cash will be used
Speaker 9: to pay interest to more than two million FTX customers.
Speaker 9: It's a rare outcome, since creditors typically receive just pennies
Speaker 9: on the dollar in US bankruptcies. Once FTX finishes selling
Speaker 9: all of its assets, the company will have as much
Speaker 9: as sixteen point three billion dollars in cash to distribute.
Speaker 9: The company owes customers and other non governmental creditors about
Speaker 9: eleven billion dollars. Although all debts will be paid in
Speaker 9: full plus interest, nothing will be left over for equity holders.
Speaker 9: In New York Time, Doug Prisoner, Bloomberg Radio.
Speaker 3: All right, Doug, thank you. And if you're a fan
Speaker 3: of luxury watches, this story is for you. They're apparently
Speaker 3: having a tough time holding their value at the moment.
Speaker 3: The Bloomberg Subdial Watch index of the secondhand watch market
Speaker 3: has dropped ten point two percent in the last twelve months.
Speaker 3: Cartier was the only major brand two gain value in
Speaker 3: the last year, up two point four percent. Watch demand
Speaker 3: peaked during the pandemic in April twenty twenty two, but
Speaker 3: values for the most in demand models have dropped sharply
Speaker 3: with higher interest rates and declining cryptocurrency values.
Speaker 2: Yes five oh seven of Well Street Time Now for
Speaker 2: a look at some of the other stories making news
Speaker 2: in New York and to round the world. And for
Speaker 2: that we're joined by Bloomberg's Michael Barram Michael, Good morning.
Speaker 5: Good morning John. Campus protests were cleared at the University
Speaker 5: of Chicago. Officers broke up a pro Palestinian demonstration that
Speaker 5: had occupied the campus's squad for the past nine days.
Speaker 5: One of the protesters criticized the police action.
Speaker 1: I think it's terrible.
Speaker 6: I think it's discussing that we have militarized.
Speaker 10: Police in an educational space to break up a peaceful protest.
Speaker 5: Meanwhile, President Biden reiterated his stance against anti Semitic threats
Speaker 5: and actions, particularly ones on college campuses. Pro Palestinian protesters
Speaker 5: continued to demonstrate against the war in Gaza and the
Speaker 5: financial support universities have been giving Israel. At a keynote
Speaker 5: address at the US Holocaust Memorial Museum's annual Days of
Speaker 5: Rememberance ceremony on Capitol Hill, the President says hate field
Speaker 5: speech will not be tolerated.
Speaker 2: While it's a tax destroying property, there's not peaceful protest.
Speaker 9: It's against the law, and we're not a lawless country.
Speaker 5: Most of the protests on college campuses have been peaceful,
Speaker 5: but law enforcement have made hundreds of arrests. Storms have
Speaker 5: battered parts of the Midwest, unleashing heavy rain, gusty winds,
Speaker 5: and tornadoes in the region. Tuesday severe when their outbreak
Speaker 5: came a day after a deadly twister ripped through a
Speaker 5: small Oklahoma town and killed at least one person. Forecasters
Speaker 5: warned that the storms could come out of the region
Speaker 5: this morning. Far Right Representative Marjorie Taylor Green says the
Speaker 5: ball is in House Speaker Mike Johnson's court after two
Speaker 5: days of meetings between the pair over her push to
Speaker 5: have him removed. Green says she wants the Speaker to
Speaker 5: commit to several actions. They include no additional funding for
Speaker 5: Ukraine and funding the Office of the Special Console what.
Speaker 11: I'm trying to do is give Mike Johnson a chance
Speaker 11: to be a Republican speaker, and he seems willing to
Speaker 11: try to do that.
Speaker 5: Speaker Johnson's old reporters he and Green are still talking
Speaker 5: through ideas, but stressed this is not a negotiation and
Speaker 5: that he will still continue to do his job. The
Speaker 5: Manhattan District Attorney's Office says streamer Kai Senant will not
Speaker 5: be prosecuted and charges will be dismissed for his role
Speaker 5: in inciting a riot in Union Square last summer. Back
Speaker 5: in August, the crowd of thousands packed Union Square for
Speaker 5: Senat's Twitch giveaway that quickly got out of hand. Sanana
Speaker 5: and two others paid about fifty seven thousand dollars in restitution.
Speaker 5: Global News twenty four hours a day and whenever you
Speaker 5: want it with the Bloomberg News. Now, I'm Michael Barr,
Speaker 5: and this is Bloomberg.
Speaker 7: John.
Speaker 2: All right, Michael, thank you, and time down for a
Speaker 2: Bloomberg Sports upday. Tan for that, Here's charn Stesshawer.
Speaker 1: All right, John.
Speaker 10: The Rangers in their first five playoff games hardly trail
Speaker 10: different story. Game two at the Garden with Carolina, they
Speaker 10: only led for four minutes of the first period, but
Speaker 10: six minutes into the third Chris Crider with his forty
Speaker 10: third career playoff goal, most in Rangers history, and the
Speaker 10: game was tied to three for the next forty one minutes.
Speaker 1: It finally ended in the second overtime. Prider, I had
Speaker 1: to get back out for a shot at clocks. I've
Speaker 1: had a chat towards Tonet knockdown, true.
Speaker 10: Check scars.
Speaker 1: His Stars.
Speaker 11: That's at Tcheck wins Game two in double overtime, has
Speaker 11: pop by his Ranger.
Speaker 10: Teammates on WEP and Trocheck scored a goal for the
Speaker 10: fifth straight game earlier two Ranger goals for alexis La
Speaker 10: frontire fifty four says for Igor sister, and he was sensational.
Speaker 10: Rangers yet to lose a playoff game head to Raleigh
Speaker 10: of two games to note, also overtime in Dallas after
Speaker 10: the Stars blew a three nothing League Colorado one that
Speaker 10: was also four to three NBA easy series opening wins
Speaker 10: to the two top seeded team Celtics by twenty five
Speaker 10: over Cleveland, Oklahoma City by twenty two over Dallas Nixon Pacers.
Speaker 10: Game two tonight at MSG and the already thin Knicks
Speaker 10: bench just got thinner. Mitchell Robinson reinjured the left ankle
Speaker 10: that caused him to miss fifty games in the regular season.
Speaker 10: He won't play until next season. The Astros have been
Speaker 10: dominant the last seven years. Not this year, Not so far.
Speaker 10: Twelve and twenty Yankees beat Houston at the Stadium ten
Speaker 10: to three. Alex Perdugo got him going three run homer
Speaker 10: first enning off Justin Verlander, who gave up seven runs,
Speaker 10: most he's ever allowed in thirty seven career Stars versus
Speaker 10: the Yanks. Mets won seven to five in Saint Louis
Speaker 10: to get back to five hundred. Brandon Nemo three run
Speaker 10: homer in a six run fifty inning. Pete Alonzo, who
Speaker 10: had been one for his last thirty two, had a
Speaker 10: homer at two run double. Red Sox lost in Atlanta,
Speaker 10: four to two. Beltway Series underway in DC Nationals. Shout
Speaker 10: out the Oils three nothing. Redhot Phillies made it eighteen
Speaker 10: of their last twenty one ten to one over Toronto.
Speaker 10: John Stashan, We're Bloomberg Sport. Johnnan Naked.
Speaker 7: Coast to Coast on Bloomberg Radio nationwide on Sirius XM
Speaker 7: and around the world on Bloomberg dot Com and the
Speaker 7: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.
Speaker 3: I'm Nathan Hager with Israel apparently poised for a full
Speaker 3: scale attack on the southern Gaza city of Rafa. At
Speaker 3: the US is trying to apply pressure to scale things back,
Speaker 3: pausing a shipment of bombs. They could do heavy damage
Speaker 3: to urban areas like Rafa.
Speaker 1: For the latest.
Speaker 3: We're joined now by Bloomberg's Derek Wallbank. Derek, good morning.
Speaker 3: What does this pause potentially mean for Israel's war plans?
Speaker 11: Nathan, It's good to be with you. As always. The
Speaker 11: aim of this, we are told, according to a senior
Speaker 11: Administration official, is that the US opposes potential military offensive
Speaker 11: on Rafa. It's really, honestly, it's that simple. The US,
Speaker 11: I think, is very concerned about what these weapons could
Speaker 11: do in an urban area like that. You're talking about
Speaker 11: a place where about one point four million Palestinians are sheltering. Obviously,
Speaker 11: Israel has said that Rafa is a key place of
Speaker 11: operations for Hamas, and talks to get to a ceasefire
Speaker 11: or conclusion of hostilities in this conflict have not been conclusive.
Speaker 11: Have with each side sort of trading blame as to
Speaker 11: who's most responsible for that. There are also, i think
Speaker 11: growing i would say, operational tensions between US President Joe
Speaker 11: Biden and Israeli's Prime Minister, Israel's Prime Minister Benjamin not Yahoo. Right,
Speaker 11: there's there's been this. Biden has been quite supportive of
Speaker 11: Israel's right to protect itself, to have defensive operations, to
Speaker 11: to try and reduce Hamasa's capacities in some ways, but
Speaker 11: he has had real criticisms over the way that this
Speaker 11: conflict has played out on the ground in Gaza. And
Speaker 11: so you're seeing this right now come to a head.
Speaker 11: Biden does not want to have direct line responsibility for
Speaker 11: an operation that he opposes.
Speaker 3: But even with this bombshipment on hold, this doesn't mean
Speaker 3: that all weapons deliveries are all support from the US
Speaker 3: to Israel is on hold, right, So I mean, what
Speaker 3: could that mean for the possibility of an eventual Israeli
Speaker 3: invasion of this city.
Speaker 11: Well, that's exactly right, Nathan. And you know, the US
Speaker 11: had included aid to Israel as part of its recent
Speaker 11: national security supplemental for Ukraine and others. There had been
Speaker 11: a desire, strong desire by the US, and I think
Speaker 11: quite bipartisan to try and replenish Israel's self defense based weaponry.
Speaker 11: It's iron dome, it's things of that nature. Is to
Speaker 11: sort of stop inbound missile attacks that might come from
Speaker 11: from Iran or Iran backed groups and things like that.
Speaker 11: So that part is quite bipartisan. But as to say,
Speaker 11: you are seeing, and I think you're seeing in part
Speaker 11: in the protests that are taking place at college campuses,
Speaker 11: but you are seeing I think broader than that within
Speaker 11: some of the Democratic coalition, including people that Joe Biden
Speaker 11: needs their votes this November aal a real disquiet or
Speaker 11: much stronger over the idea that the US is sending
Speaker 11: to Israel, potentially some of these weapons that might be
Speaker 11: used in these in these attacks that Biden doesn't like.
Speaker 11: And so if you're Joe Biden, you're sitting there saying, look,
Speaker 11: you know, this isn't the way that I would want
Speaker 11: you to prosecute this war. So do I want to enable.
Speaker 2: That You're listening to Bloomberg Daybreak today, your morning brief
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