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Speaker 1: Bloomberg Audio Studios, podcasts, radio, news.

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Speaker 2: News. When you wanted with Bloomberg News Now, I'm Brian Curtis.

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Speaker 2: In Hong Kong, President Joe Biden kicked off his State

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Speaker 2: of the Union address by warning that democracy is endangered

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Speaker 2: at home and abroad. The speech is expected to have

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Speaker 2: drawn an audience of tens of millions of Americans. It's

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Speaker 2: one of Biden's best opportunities to define his re election

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Speaker 2: battle and reinvigorate his campaign. Sweden has become the thirty

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Speaker 2: second member of NATO, completing the alliance's historic enlargement into

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Speaker 2: the Nordic region. It comes two years after Russia's invasion

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Speaker 2: of Ukraine prompted the membership bid. Secretary of State Anthony Blincoln.

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Speaker 3: Let me be the very first to welcome Sweden as

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Speaker 3: a party of the Washington Treaty and the thirty second

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Speaker 3: member of the North Atlantic Treaty Organization.

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Speaker 2: Grave of State Anthony Blincoln and Swedish Prime Minister Ulf

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Speaker 2: Christensen presided at a ceremony in which Sweden's instrument of

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Speaker 2: accession to the Alliance was officially deposited at the State Department.

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Speaker 2: Hong Kong has proposed life sentences for crimes related to

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Speaker 2: treason and insurrection. Today mark the first reading of a

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Speaker 2: draft bill on security published by the government. The submission

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Speaker 2: of legislation was sped up after comments by senior Chinese

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Speaker 2: officials at the NPC meetings in Beijing. There are new

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Speaker 2: offenses such as insurrection and external interference. Diplomats have raised

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Speaker 2: concerns over what they say are vague definitions of state

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Speaker 2: secrets and foreign interference. Two clinics in Alabama are resuming

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Speaker 2: in vitro fertilization treatment after Governor k Ivy signed a

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Speaker 2: law protecting them from prosecution. State lawmakers raced to pass

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Speaker 2: the bill. This comes after the Alabama Supreme Court had

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Speaker 2: ruled that frozen embryo should be considered children. Huh chairs

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Speaker 2: the Obstetrics and Gynecology Department at the University of Alabama

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Speaker 2: at Birmingham. There IVF had been on hold.

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Speaker 4: UAV appreciates the ALBUMA legislature and Governor Ivy for swiftly

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Speaker 4: passing and signing legislation that provides some protections and will

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Speaker 4: therefore allow UAB to restart in vuture fertilization treatments also

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Speaker 4: known as IVF, while UEB is moving to properly resume

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Speaker 4: IVF treatments, will continue assess developments and advocate for protections

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Speaker 4: for IVF patients and our providers.

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Speaker 2: Doctor Hub released that video statement after the governors signed

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Speaker 2: the bill into law. Alabama Fertility, which runs three IVF

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Speaker 2: clinics in this state, also says it will resume operations.

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Speaker 2: United Airlines is slowing pilot hiring this year and is

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Speaker 2: suspending training classes for new aviators after Boeing pulled the

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Speaker 2: Boeing Max ten aircraft from its flight plans this year.

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Speaker 2: The story from Bloomberg's Charlie.

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Speaker 1: Pillett word came in a memo to pilots from United executives.

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Speaker 1: They said, quote, United will slow the pace of pilot

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Speaker 1: hires this year due to continued new aircraft certification and

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Speaker 1: manufacturing delays at Boeing. This includes the pause of new

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Speaker 1: higher classes during the months of May and June. Continued

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Speaker 1: delivery delays and manufacturing missteps at Boeing forced United to

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Speaker 1: take the plane out of its twenty twenty four planning

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Speaker 1: in January. It was to have received eighty Max tens

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Speaker 1: this year, part of an outstanding order with Boeing for

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Speaker 1: two hundred and seventy seven of the planes in New

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Speaker 1: York Charlie Pellett Bloomberg Radio.

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Speaker 2: That charge your own palace. As policymakers are getting close

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Speaker 2: to having the confidence to cut interest rates, the comments

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Speaker 2: add some color to the timing of the first rate cut.

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Speaker 2: Pal also said that souring commercial real estate loans will

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Speaker 2: likely cause some bank failures, but he said that that

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Speaker 2: would not pose a risk to the overall system.

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Speaker 5: We've looked at banks that have significant concentrations, and we've

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Speaker 5: been in touch with them to make sure that they

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Speaker 5: have a plan to deal with them. There will be losses,

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Speaker 5: there will be bank failures, but this is not the

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Speaker 5: big banks. If you look at the very big banks,

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Speaker 5: it's not a first order issue for any of the

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Speaker 5: very large banks. It's more smaller and medium sized banks

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Speaker 5: that had these issues. This is a problem we'll be

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Speaker 5: working through, I think, for several years.

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Speaker 2: Fetcher J. Powell there in front of the Senate Banking Committee.

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Speaker 2: For months, financial regulators have said that they're monitoring the

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Speaker 2: financial system for fallout from struggling commercial real estate. Chip

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Speaker 2: maker Broadcom reported disappointing revenue from its semiconductor division. That's

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Speaker 2: even as it said that AI is fueling demand for

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Speaker 2: its custom chips semiconductor sales, with seven point three nine

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Speaker 2: billion dollars in the fiscal first quarter that missed estimates

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Speaker 2: by roughly three hundred million dollars. Overall, Broadcom beat projections

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Speaker 2: on both sales and profit. That's news when you want it.

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Speaker 2: With Bloomberg News Now. I'm Brian Curtis. This is Bloomberg