WEBVTT - US-China Trade Talks Progress, Hamas to Release Hostage, More

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<v Speaker 1>News when you want it with Bloomberg News Now Dan Schwartzman.

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<v Speaker 1>Officials say the US and China made substantial progress during

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<v Speaker 1>trade talks in Geneva, Switzerland. Treasury Secretary Scott Bestin's and

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<v Speaker 1>US Trade Representative Jamison Greer spoke after hours of meetings

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<v Speaker 1>with Chinese Vice Premier Holly Fung. Here's bessant.

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<v Speaker 2>First, I want to thank our Swiss host. The Swiss

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<v Speaker 2>government has been very kind in providing us this wonderful venue,

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<v Speaker 2>and I think that led to a great deal of

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<v Speaker 2>the productivity we've seen. We will be giving details tomorrow,

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<v Speaker 2>but I can tell you that the talks were productive.

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<v Speaker 1>Asian stocks and US equity index futures rose as a

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<v Speaker 1>result of the trade talks in Switzerland. We got reaction

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<v Speaker 1>from Raj Singh, portfolio manager at Principal Asset Management.

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<v Speaker 3>Market is liking it, and market is digesting this uncertainity

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<v Speaker 3>quite well, and that we can see that since the

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<v Speaker 3>libration day, most of the markets, how would all the losses,

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<v Speaker 3>In fact, most of the markets on green. Whether you

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<v Speaker 3>look at US, you look at Europe, you look places

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<v Speaker 3>in Asia. So I would say that the risk sentiments

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<v Speaker 3>are getting lifted.

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<v Speaker 1>Here that was Raj Singh of Principal Asset Management HAMAS

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<v Speaker 1>says it will be releasing the last living American it

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<v Speaker 1>is holding hostage in Gaza Iden, Alexander. After holding direct

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<v Speaker 1>talks to the US regarding a ceasefire with Israel, President

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<v Speaker 1>Trump is in the Middle East this week meeting with

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<v Speaker 1>regional leaders. An FAA equipment failure prompted another temporary groundstop

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<v Speaker 1>at Newark Liberty International Airport on Sunday. The agency released

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<v Speaker 1>a statement calling it a telecommunications issue at the Philadelphia

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<v Speaker 1>area facility, which guides planes in and out of Newark Airport.

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<v Speaker 1>New York Senator Chuck Schumer held a press conference to

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<v Speaker 1>talk about the latest outage. This situation cannot last. We

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<v Speaker 1>need all hands on deck at the FAA. Make Newark

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<v Speaker 1>number one.

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<v Speaker 4>Get it done, Get it done fast.

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<v Speaker 1>That's New York Senator Chuck Schumer. Meantime. US Transportation Secretary

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<v Speaker 1>Sean Duffy says Newark may see quote several weeks of

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<v Speaker 1>reduced capacity as officials grapple with spiraling delays and safety

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<v Speaker 1>lapses at one of the country's busiest hubs. Duffy spoke

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<v Speaker 1>earlier to NBC's Meet the Press.

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<v Speaker 5>What you see in Newark is going to happen in

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<v Speaker 5>other places across the country. It has to be fixed.

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<v Speaker 5>And so what we're having is some telecom issues. We're

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<v Speaker 5>also having some glitches in our software as the information

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<v Speaker 5>comes in is overloading some of our lines and the

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<v Speaker 5>system goes down. So I'll just tell you specifically at Newark,

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<v Speaker 5>we believe we're going to have it up and running

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<v Speaker 5>in short order. We're gonna be able to fix that glitch.

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<v Speaker 1>Transportation Secretary Sean Duffy, speaking to NBC, the Federal Aviation

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<v Speaker 1>Administration says it will be holding tons with airline officials

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<v Speaker 1>on May fourteenth in Washington. President Trump says on social

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<v Speaker 1>media he will be signing an executive order at nine

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<v Speaker 1>am Monday morning which will cup prescription drug prices by

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<v Speaker 1>mandating that the US would pay the same price for

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<v Speaker 1>drugs as whichever country pays the lowest prices in the world.

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<v Speaker 1>Trump predicts the move will lower prices by thirty to

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<v Speaker 1>eighty percent. The President did not, though, give specifics, such

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<v Speaker 1>as whether the order would be just for government programs

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<v Speaker 1>such as Medicare, Medicaid or across the board. A ceasefire

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<v Speaker 1>between Indian and Pakistan appeared to be holding after four

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<v Speaker 1>days of clashes that brought the two nuclear armed nations

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<v Speaker 1>close to full blown war. This comes after President Trump

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<v Speaker 1>untruth social declared that both countries had reached a quote

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<v Speaker 1>full and immediate ceasefire. We have more from Bloomberg's Swatty Pandy.

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<v Speaker 6>Some Indian officials also told Bloomberg reporters on condition of anonymity,

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<v Speaker 6>that they were completely caught off god by Trump's truth

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<v Speaker 6>social post. So there is that feeling that India and

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<v Speaker 6>Pakistan were put on an equal footing by the US,

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<v Speaker 6>which India wants to reject.

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<v Speaker 1>That was Bloomberg's Swaddi Pandy. The conflict has raised concerns

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<v Speaker 1>about the potential for future violence, with both sides having

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<v Speaker 1>crossed quote red lines. The legislative push for President Trump's

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<v Speaker 1>tax package begins in earnest this week, Bloomberg's Amy Morris

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<v Speaker 1>supporting from Washington.

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<v Speaker 4>The House Ways and Means and Energy and Commerce committees

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<v Speaker 4>will be and considering their respective portions of the tax

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<v Speaker 4>package on Tuesday. Energy and Commerce lawmakers are responsible for

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<v Speaker 4>finding eight hundred and eighty billion dollars in savings over

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<v Speaker 4>the next decade that could spark a fiery debate, especially

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<v Speaker 4>over cuts to Medicaid. Republicans are still debating expanding the

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<v Speaker 4>state and local tax deduction and restricting the estate tax.

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<v Speaker 4>Gob leaders have said a vote on the entire tax

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<v Speaker 4>and spending package will happen by the end of this month.

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<v Speaker 4>In Washington, Amy Morris, Bloomberg Radio in.

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<v Speaker 1>Sports, Sepstraca has won the truest Championship, shooting a sixteen

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<v Speaker 1>hundred part acclaim his second title the PGA Tour season.

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<v Speaker 1>And that's news when you want it with Bloomberg News Now,

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<v Speaker 1>I'm Dan Schwartzman, and this is Bloomberg