1
00:00:02,920 --> 00:00:06,680
Speaker 1: News when you wanted with Bloomberg News Now, I'm Doug Chrisner. Today,

2
00:00:07,040 --> 00:00:10,080
Speaker 1: Israel's defense minister told the US his country has no

3
00:00:10,240 --> 00:00:13,600
Speaker 1: choice but to retaliate against Iran for the weekend attack.

4
00:00:14,000 --> 00:00:17,320
Speaker 1: Bloomberg's Nick Wadhams says the White House is pushing back

5
00:00:17,680 --> 00:00:19,320
Speaker 1: against Israel's response.

6
00:00:19,960 --> 00:00:22,920
Speaker 2: What we're hearing from the Administration is essentially that they

7
00:00:23,000 --> 00:00:27,240
Speaker 2: want Israel to put the brakes on any sort of response.

8
00:00:27,320 --> 00:00:31,280
Speaker 2: So we've been told the view from the White House

9
00:00:31,480 --> 00:00:35,199
Speaker 2: is listen, Israel, take the win. Your air defenses did

10
00:00:35,280 --> 00:00:40,320
Speaker 2: an extraordinary job deflecting and rebuffing about ninety nine percent

11
00:00:40,360 --> 00:00:43,040
Speaker 2: of those incoming drones and missiles, and there is no

12
00:00:43,159 --> 00:00:44,680
Speaker 2: need for an immediate response.

13
00:00:44,720 --> 00:00:48,640
Speaker 1: That is Bloomberg's Nick Wattams. After months of inaction, it

14
00:00:48,680 --> 00:00:50,839
Speaker 1: looks as though the House is going to vote on

15
00:00:51,040 --> 00:00:54,000
Speaker 1: foreign aid this week. Here's Bloomberg's Ed Baxter.

16
00:00:54,600 --> 00:00:57,640
Speaker 3: Speaker Mike Johnson is planning separate votes this week on

17
00:00:57,760 --> 00:01:01,720
Speaker 3: new aid to both Israel and this in an attempt

18
00:01:01,720 --> 00:01:05,960
Speaker 3: to assemble fragile coalitions to speed weaponry to both places.

19
00:01:06,040 --> 00:01:09,080
Speaker 4: We have a terrorist in tyrants and terrible leaders around

20
00:01:09,080 --> 00:01:12,600
Speaker 4: the world like Putin and g and in Iran, and

21
00:01:12,640 --> 00:01:15,560
Speaker 4: they're watching to see if America will stand up for

22
00:01:15,640 --> 00:01:18,280
Speaker 4: its allies and our own interest around the globe, and

23
00:01:18,319 --> 00:01:18,720
Speaker 4: we will.

24
00:01:18,800 --> 00:01:21,039
Speaker 3: Now, his party majority is very slim, and he may

25
00:01:21,120 --> 00:01:24,200
Speaker 3: need Democrat support, and he very well may get it.

26
00:01:24,480 --> 00:01:28,119
Speaker 3: The impasse over eight has been dragging on since October

27
00:01:28,560 --> 00:01:29,839
Speaker 3: ed Baxter Bloomberg Radio.

28
00:01:30,080 --> 00:01:32,960
Speaker 1: Donald Trump's first criminal trial got off to a slow

29
00:01:33,000 --> 00:01:37,360
Speaker 1: start today in Manhattan. Proceeding stalled over disagreements about evidence

30
00:01:37,440 --> 00:01:40,840
Speaker 1: and other last minute arguments. Jury selection was set to

31
00:01:40,880 --> 00:01:44,680
Speaker 1: start today but didn't ultimately kick off until the final hours.

32
00:01:45,160 --> 00:01:48,200
Speaker 1: Seating of a jury may prove difficult. More than half

33
00:01:48,240 --> 00:01:52,200
Speaker 1: of the panel's first ninety six potential jurors were excused

34
00:01:52,600 --> 00:01:56,160
Speaker 1: after saying they could not be impartial. The process will

35
00:01:56,200 --> 00:02:00,240
Speaker 1: begin again tomorrow. Disputes over individual jurors are calm and

36
00:02:00,280 --> 00:02:03,800
Speaker 1: can lead to drawn out questioning by lawyers to root

37
00:02:03,840 --> 00:02:07,800
Speaker 1: out potential bias. China's economy struggled in the month of March.

38
00:02:07,880 --> 00:02:10,360
Speaker 1: Retail sales were up three point one percent, but the

39
00:02:10,480 --> 00:02:13,160
Speaker 1: estimate looked for an increase at a rate of four

40
00:02:13,200 --> 00:02:16,640
Speaker 1: point eight percent. I meantime, industrial output up at a

41
00:02:16,720 --> 00:02:19,320
Speaker 1: rate of four and a half percent. That's year on year.

42
00:02:19,680 --> 00:02:22,880
Speaker 1: The estimate was for six percent. Even so, for the

43
00:02:22,919 --> 00:02:27,359
Speaker 1: first quarter, China's economic growth beat estimates, with GDP rising

44
00:02:27,400 --> 00:02:30,280
Speaker 1: at a rate of five point three percent. The estimate

45
00:02:30,360 --> 00:02:33,520
Speaker 1: was calling for four point eight percent. Here in the States,

46
00:02:33,560 --> 00:02:35,440
Speaker 1: the head of the New York Fed, John Williams, was

47
00:02:35,480 --> 00:02:39,160
Speaker 1: saying the Fed will begin likely to cut interest rates

48
00:02:39,160 --> 00:02:42,960
Speaker 1: sometime this year. That's if inflation continues to come down.

49
00:02:43,240 --> 00:02:46,120
Speaker 5: I think monte policy is working at the rates that

50
00:02:46,120 --> 00:02:49,240
Speaker 5: we have now, so I think I think monte policy

51
00:02:49,360 --> 00:02:51,720
Speaker 5: isn't a good place. We will need a start a

52
00:02:51,720 --> 00:02:54,680
Speaker 5: process at some point to bring interest rates back to

53
00:02:54,800 --> 00:02:57,399
Speaker 5: more normal levels. And my own view is that, well,

54
00:02:57,720 --> 00:03:01,480
Speaker 5: you know that process will likely start this year, but

55
00:03:01,600 --> 00:03:05,320
Speaker 5: again it's to be driven by the data and achieving

56
00:03:05,320 --> 00:03:05,919
Speaker 5: our goals.

57
00:03:06,120 --> 00:03:08,320
Speaker 1: He is John Williams, the head of the New York Fed.

58
00:03:08,680 --> 00:03:11,000
Speaker 1: We go to Tesla next. The company is cutting more

59
00:03:11,040 --> 00:03:14,040
Speaker 1: than ten percent of its global workforce. That's roughly fourteen

60
00:03:14,160 --> 00:03:18,720
Speaker 1: thousand jobs. The carmaker's been struggling with software demand for EVS.

61
00:03:18,760 --> 00:03:23,040
Speaker 1: CEO Elon Musk emailed staff today and cited duplication of

62
00:03:23,120 --> 00:03:25,840
Speaker 1: roles and the need to reduce costs. Now along with

63
00:03:25,919 --> 00:03:31,519
Speaker 1: these layoffs, we're hearing that senior VP Drew Baglino resigned Bloomberg.

64
00:03:31,560 --> 00:03:35,360
Speaker 1: Zed Ludlow tells us Baglino's departure comes at an interesting

65
00:03:35,400 --> 00:03:36,320
Speaker 1: time for Tesla.

66
00:03:36,560 --> 00:03:40,000
Speaker 6: The timing is interesting. Drew Baglino is not a household name,

67
00:03:40,360 --> 00:03:43,800
Speaker 6: but he's incredibly important to the history of Tesla. He's

68
00:03:43,840 --> 00:03:47,600
Speaker 6: one of just four stated or listed executive officers or

69
00:03:47,680 --> 00:03:50,160
Speaker 6: he was. One of the things that I understand from

70
00:03:50,200 --> 00:03:53,680
Speaker 6: sources about Drew Baglino's decision to leave was actually he

71
00:03:53,760 --> 00:03:55,920
Speaker 6: felt that the company was in a good place in

72
00:03:55,960 --> 00:03:58,480
Speaker 6: the areas he was responsible for. The growth in the

73
00:03:58,560 --> 00:04:01,760
Speaker 6: energy business is expected to outpace the call business this year.

74
00:04:02,080 --> 00:04:04,920
Speaker 1: Ed Ludlow there from Bloomberg. By the way, Tesla shares

75
00:04:04,960 --> 00:04:07,720
Speaker 1: in the regular session were down five point six percent.

76
00:04:08,160 --> 00:04:12,680
Speaker 1: The Justice Department may soon file antitrust action against Live Nation.

77
00:04:13,160 --> 00:04:16,599
Speaker 1: It would be aimed at forcing Live Nation Entertainment to

78
00:04:16,680 --> 00:04:19,680
Speaker 1: spin off its Ticketmaster ticketing business. We are told a

79
00:04:19,720 --> 00:04:22,760
Speaker 1: complaint could come as soon as next month, although the

80
00:04:22,800 --> 00:04:26,280
Speaker 1: timing may slip now. The DOJ has been investigating Live

81
00:04:26,400 --> 00:04:30,640
Speaker 1: Nation for years given concerns the company has illegally tied

82
00:04:30,640 --> 00:04:35,279
Speaker 1: its concert promotion service to use of Ticketmaster, and that

83
00:04:35,400 --> 00:04:37,520
Speaker 1: is news when you want it with Bloomberg News Now,

84
00:04:37,680 --> 00:04:39,680
Speaker 1: I'm Doug Krisner, and this is Bloomberg