1
00:00:02,480 --> 00:00:10,799
Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan

2
00:00:10,840 --> 00:00:13,800
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

3
00:00:13,840 --> 00:00:14,600
Speaker 1: following today.

4
00:00:14,760 --> 00:00:16,960
Speaker 2: Karen, we'll have more on markets in a minute. First,

5
00:00:17,000 --> 00:00:20,360
Speaker 2: a developing story. Taiwan has been hit by its strongest

6
00:00:20,360 --> 00:00:23,479
Speaker 2: earthquake in twenty five years. At least seven people have

7
00:00:23,520 --> 00:00:26,720
Speaker 2: been killed more than seven hundred injured during the seven

8
00:00:26,760 --> 00:00:29,560
Speaker 2: point four magnitude quake on the east of the island.

9
00:00:29,840 --> 00:00:33,360
Speaker 2: Dozens of buildings were leveled. Bloomberg's Adrian Kennedy is in

10
00:00:33,400 --> 00:00:35,880
Speaker 2: the capital, Taipei and begins our team coverage.

11
00:00:36,120 --> 00:00:38,479
Speaker 3: Taipei right now is back to normal. There cows and

12
00:00:38,600 --> 00:00:42,159
Speaker 3: motorcycles on the street. We're operating for our offices here normally.

13
00:00:42,320 --> 00:00:45,600
Speaker 3: You know, Taiwan people are pretty resilient. They're used to earthquakes,

14
00:00:45,720 --> 00:00:49,560
Speaker 3: they used to severe flooding and typhoons. Is a phillly natural,

15
00:00:49,600 --> 00:00:53,040
Speaker 3: disaster prone island on the east coast. That is an

16
00:00:53,120 --> 00:00:56,120
Speaker 3: area which is more remote. It's cut off for much

17
00:00:56,120 --> 00:00:59,280
Speaker 3: of the island by mountains. We do have reports of

18
00:00:59,400 --> 00:01:02,160
Speaker 3: some houses haven't collapsed. We do have some reports that

19
00:01:03,080 --> 00:01:06,720
Speaker 3: rescues being underway for people who may be trapped in

20
00:01:06,760 --> 00:01:07,600
Speaker 3: those houses naw.

21
00:01:07,640 --> 00:01:10,840
Speaker 2: Bloomberg's Adrian Kennedy says tsunami warnings were issued in parts

22
00:01:10,840 --> 00:01:14,240
Speaker 2: of Japan and China, but they were later downgraded.

23
00:01:14,040 --> 00:01:17,120
Speaker 1: Well, Nathan, Taiwan has great importance to the global economy.

24
00:01:17,160 --> 00:01:21,000
Speaker 1: It is the dominant producer of the world's most advanced semiconductors.

25
00:01:21,000 --> 00:01:25,240
Speaker 1: Bloomberg Intelligence Asia tech analyst Robert Lee continues our team

26
00:01:25,280 --> 00:01:26,560
Speaker 1: coverage Taiwan is.

27
00:01:26,520 --> 00:01:29,000
Speaker 4: The silicon valley of Asia. It's at the epicenter of

28
00:01:29,000 --> 00:01:32,560
Speaker 4: global chip production, with TSMC being the center of that.

29
00:01:33,160 --> 00:01:35,520
Speaker 4: So it's a very important place for the global tech

30
00:01:35,520 --> 00:01:39,360
Speaker 4: food chain, particularly within semiconductors. But as I said, it

31
00:01:39,400 --> 00:01:43,040
Speaker 4: would appear and just thinking through and understanding the geography

32
00:01:43,800 --> 00:01:48,320
Speaker 4: and the protocols and preventative measures in place that realistically

33
00:01:48,480 --> 00:01:52,040
Speaker 4: the damage to TSMC's production or plants is likely to

34
00:01:52,120 --> 00:01:54,120
Speaker 4: be minimal at this point.

35
00:01:54,400 --> 00:01:58,520
Speaker 1: Bloomberg Intelligence Asia Tech analyst Robert Lee says, Taiwan Semiconductor

36
00:01:58,600 --> 00:02:01,920
Speaker 1: is a major supplier of to Apple and Nvidia. It

37
00:02:02,000 --> 00:02:06,200
Speaker 1: halted some chip making and evacuated plants following the earthquake Careen.

38
00:02:06,240 --> 00:02:08,760
Speaker 2: Another story we continue to follow is the fallout from

39
00:02:08,840 --> 00:02:12,280
Speaker 2: Israel's killing of aid workers. President Biden has issued his

40
00:02:12,720 --> 00:02:17,400
Speaker 2: strongest statement of criticism against Israel, yet Bloomberg Zed Baxter

41
00:02:17,560 --> 00:02:18,360
Speaker 2: has that story.

42
00:02:18,800 --> 00:02:21,960
Speaker 5: President Biden says Israel has not done enough to protect

43
00:02:22,000 --> 00:02:25,200
Speaker 5: civilians in Gaza. This following the killing of seven World

44
00:02:25,320 --> 00:02:29,359
Speaker 5: Central Kitchen workers providing aid to Palestinians. Secretary of State

45
00:02:29,400 --> 00:02:32,480
Speaker 5: Anthony Blincoln says, the work they're doing there is extraordinary.

46
00:02:32,560 --> 00:02:37,560
Speaker 6: Spoking directly to the Israeli government about this particular incident,

47
00:02:38,440 --> 00:02:44,880
Speaker 6: we verged a swift, a thorough, an impartial investigation to

48
00:02:45,040 --> 00:02:47,360
Speaker 6: understand exactly what happened, and.

49
00:02:47,280 --> 00:02:50,639
Speaker 5: The President is now also pushing for an immediate cease

50
00:02:50,720 --> 00:02:55,120
Speaker 5: fire as part of a hostage deal ed Baxter Bloomberg.

51
00:02:54,720 --> 00:02:57,760
Speaker 1: Radio, all right and thank you. Meanwhile, President Biden had

52
00:02:57,760 --> 00:03:00,839
Speaker 1: his first call with the Chinese president. Sheies ping since

53
00:03:00,840 --> 00:03:03,880
Speaker 1: they were face to face encounter in San Francisco last November.

54
00:03:04,120 --> 00:03:07,120
Speaker 1: We get more from Bloomberg's and a current in Washington.

55
00:03:07,320 --> 00:03:09,720
Speaker 7: The call is about stabilizing relations, but that does not

56
00:03:09,840 --> 00:03:12,480
Speaker 7: mean the competitive strategic age that has gone away, and

57
00:03:12,560 --> 00:03:17,280
Speaker 7: of course the point being their export controls, investment controls,

58
00:03:17,639 --> 00:03:19,840
Speaker 7: the race for a the US to get back in

59
00:03:19,880 --> 00:03:22,200
Speaker 7: the game in terms of chip production and ev production

60
00:03:22,520 --> 00:03:26,000
Speaker 7: and everything else. None of that is has been changed

61
00:03:26,120 --> 00:03:28,239
Speaker 7: or will be changed by its phone call or any.

62
00:03:28,040 --> 00:03:31,440
Speaker 1: Other and Bloomberg's and A current says the two leaders

63
00:03:31,480 --> 00:03:34,520
Speaker 1: discuss efforts to force the sale of TikTok in the US.

64
00:03:34,800 --> 00:03:37,600
Speaker 2: Now, Karin the latest on the run for the White House.

65
00:03:37,640 --> 00:03:40,960
Speaker 2: President Biden and former President Donald Trump both added to

66
00:03:41,000 --> 00:03:44,200
Speaker 2: their delegate counts last night. Four more states held primaries

67
00:03:44,200 --> 00:03:48,080
Speaker 2: on Tuesday. The presumptive nominees easily won in New York, Connecticut,

68
00:03:48,160 --> 00:03:51,440
Speaker 2: Rhode Island, and Wisconsin. Trump picked up seventy eight to

69
00:03:51,480 --> 00:03:54,240
Speaker 2: eighty four percent of the Republican vote, while Biden took

70
00:03:54,280 --> 00:03:56,480
Speaker 2: eighty three to ninety one and a half percent. On

71
00:03:56,520 --> 00:03:58,000
Speaker 2: the Democratic side, Well.

72
00:03:58,040 --> 00:04:00,880
Speaker 1: Nathan, the results maybe a foregone king, but they do

73
00:04:00,960 --> 00:04:05,040
Speaker 1: provide some clues about enthusiasm among base voters. Republican Nicki

74
00:04:05,080 --> 00:04:08,280
Speaker 1: Hayley won at least eleven percent support in all four states.

75
00:04:08,400 --> 00:04:11,040
Speaker 1: In Connecticut and Rhode Island, at least eleven percent of

76
00:04:11,120 --> 00:04:15,200
Speaker 1: Democrats voted uncommitted, and a Wisconsin, almost nine percent of

77
00:04:15,280 --> 00:04:20,000
Speaker 1: Democrats voted uninstructed. Activists have been encouraging Democrats to vote

78
00:04:20,000 --> 00:04:22,640
Speaker 1: against the President to protest his handling of the war

79
00:04:22,800 --> 00:04:23,320
Speaker 1: in Gaza.

80
00:04:23,640 --> 00:04:26,000
Speaker 2: Right, Well, let's turn to the economy, Karen. Investors are

81
00:04:26,000 --> 00:04:27,839
Speaker 2: going to be looking for more clues on interest rates

82
00:04:27,920 --> 00:04:29,520
Speaker 2: later today, when FED chair J.

83
00:04:29,800 --> 00:04:30,680
Speaker 8: Powell speaks at.

84
00:04:30,640 --> 00:04:33,720
Speaker 2: An economic forum at Stanford University. We get a preview

85
00:04:33,760 --> 00:04:35,400
Speaker 2: from Bloomberg's Michael McKee.

86
00:04:35,480 --> 00:04:38,680
Speaker 9: The FED chairman is the central banking version of E. F. Hutton.

87
00:04:38,800 --> 00:04:41,680
Speaker 9: When he talks, people listen, and he's talking for a

88
00:04:41,720 --> 00:04:44,359
Speaker 9: second time in a week, offering another look at his

89
00:04:44,480 --> 00:04:48,440
Speaker 9: economic outlook. Last week, Powell helped turn market sentiment by

90
00:04:48,520 --> 00:04:51,720
Speaker 9: arguing the FED is in no hurry to lower interest rates.

91
00:04:52,040 --> 00:04:55,680
Speaker 9: Central bankers see unexpected strength in the US economy that

92
00:04:55,839 --> 00:04:59,200
Speaker 9: might boost inflation. Powell is not going to change that

93
00:04:59,360 --> 00:05:02,440
Speaker 9: view today, but investors will be listening for any nuances

94
00:05:02,760 --> 00:05:06,000
Speaker 9: that might give them more clarity on the criteria for easing.

95
00:05:06,240 --> 00:05:08,640
Speaker 9: If not the timing, Michael McKee, Bloomberg Radio.

96
00:05:08,680 --> 00:05:10,479
Speaker 2: All right, Mike, thank you, and stay with Bloomberg for

97
00:05:10,520 --> 00:05:13,080
Speaker 2: live coverage of J. Powell's remarks. We'll have it for

98
00:05:13,120 --> 00:05:16,520
Speaker 2: you at noon Wall Street time on Bloomberg Radio and Television.

99
00:05:16,839 --> 00:05:19,919
Speaker 1: Nathan ahead of Powell's speech, more FED officials are cautioning

100
00:05:20,080 --> 00:05:23,680
Speaker 1: about beginning the rate cut cycle. Two officials, including San

101
00:05:23,720 --> 00:05:27,720
Speaker 1: Francisco FED President Mary Daily, say still expect three rate

102
00:05:27,760 --> 00:05:30,200
Speaker 1: cuts this year, but there's no rush to begin lowering

103
00:05:30,320 --> 00:05:31,200
Speaker 1: borrowing costs.

104
00:05:31,640 --> 00:05:33,920
Speaker 3: I think that is a very reasonable baseline.

105
00:05:33,960 --> 00:05:36,120
Speaker 1: But I would like to say here that this is

106
00:05:36,160 --> 00:05:39,320
Speaker 1: a projection. Right, three rate cuts is a projection, and

107
00:05:39,360 --> 00:05:42,640
Speaker 1: a projection is not a promise. San Francisco FED President

108
00:05:42,680 --> 00:05:46,400
Speaker 1: Mary Daily's sentiments were echoed by Cleveland FED President Lorettamester.

109
00:05:46,760 --> 00:05:49,280
Speaker 2: We have some breaking news from the Fed Karen involving

110
00:05:49,520 --> 00:05:52,960
Speaker 2: global climate risk rules for Wall Street banks, Bloomberg News

111
00:05:52,960 --> 00:05:56,279
Speaker 2: has learned US regulators, led by the FED, have thwarted

112
00:05:56,320 --> 00:05:59,000
Speaker 2: a push to make climate risk a focus of global

113
00:05:59,040 --> 00:06:02,640
Speaker 2: financial rules. European central bankers have been advocating for the

114
00:06:02,640 --> 00:06:06,080
Speaker 2: Basel Committee on Banking Supervision to agree on requiring lenders

115
00:06:06,080 --> 00:06:09,360
Speaker 2: to disclose strategies for meeting green commitments, the sources, saying

116
00:06:09,400 --> 00:06:12,920
Speaker 2: closed door meetings. US officials have cited their narrow mandate

117
00:06:13,160 --> 00:06:16,359
Speaker 2: and concerns that the Basle Committee was overstepping its purpose.

118
00:06:16,800 --> 00:06:16,960
Speaker 10: Well.

119
00:06:17,000 --> 00:06:20,680
Speaker 1: In Company News, Nathan a costly months long proxy battle

120
00:06:20,720 --> 00:06:23,400
Speaker 1: for control of Disney appears to be over and we

121
00:06:23,440 --> 00:06:25,960
Speaker 1: get this story from Bloomberg's John Tucker, John.

122
00:06:25,839 --> 00:06:28,680
Speaker 11: And Karen Walt. Disney has secured enough shareholder votes to

123
00:06:28,760 --> 00:06:32,640
Speaker 11: fend off a challenge from Nelson Peltz's try And Fund Management.

124
00:06:33,120 --> 00:06:36,000
Speaker 11: This was the latest test for CEO Bob Iger, who

125
00:06:36,040 --> 00:06:38,400
Speaker 11: returned to the Helm in November of twenty twenty two.

126
00:06:38,800 --> 00:06:41,200
Speaker 11: A Reuters reported as of last night, Disney had the

127
00:06:41,240 --> 00:06:44,000
Speaker 11: votes to defeat Tryan's attempt to appoint Pelts and one

128
00:06:44,040 --> 00:06:47,159
Speaker 11: of his allies to the board. Bloomberg earlier reported that

129
00:06:47,160 --> 00:06:50,920
Speaker 11: Disney won the support of major investors like Vanguard, black

130
00:06:51,040 --> 00:06:53,800
Speaker 11: Rock and t row Price. A. Try In had pushed

131
00:06:53,839 --> 00:06:56,839
Speaker 11: for changes to management and strategy and an effort to

132
00:06:56,880 --> 00:07:00,520
Speaker 11: improve what it saws years of poor performance. Held said

133
00:07:00,560 --> 00:07:04,000
Speaker 11: receive the backing of an influential shareholder advisory firm and

134
00:07:04,080 --> 00:07:07,080
Speaker 11: a group of business leaders. Even Elon Musk, who doesn't

135
00:07:07,120 --> 00:07:11,200
Speaker 11: own Disney shares back Pelts. Disney spent millions of dollars

136
00:07:11,200 --> 00:07:14,640
Speaker 11: on advertising to garner support for its position. John Tucker

137
00:07:14,640 --> 00:07:15,880
Speaker 11: Bloomberg Radio.

138
00:07:15,800 --> 00:07:18,400
Speaker 1: All right, John, thanks well. Disney shares our little change

139
00:07:18,400 --> 00:07:20,480
Speaker 1: this morning. It is the best performing stock in the

140
00:07:20,560 --> 00:07:26,720
Speaker 1: Dow this year up thirty six percent. And it's time

141
00:07:26,760 --> 00:07:28,360
Speaker 1: now for a look at some of the other stories

142
00:07:28,360 --> 00:07:30,600
Speaker 1: making news in New York and around the world. And

143
00:07:30,640 --> 00:07:33,520
Speaker 1: for that we're joined by Bloomberg's Michael Barr. Michael, good Morning,

144
00:07:33,600 --> 00:07:34,520
Speaker 1: Good Morning Karen.

145
00:07:34,560 --> 00:07:37,880
Speaker 12: Today, a federal judge in Newark will hear oral arguments

146
00:07:37,880 --> 00:07:42,120
Speaker 12: in New Jersey's lawsuit over New York's congestion pricing tolls.

147
00:07:42,480 --> 00:07:46,040
Speaker 12: The new toll would charge most drivers fifteen dollars for

148
00:07:46,360 --> 00:07:50,040
Speaker 12: passenger cars driving south of sixtieth Street to Manhattan. New

149
00:07:50,120 --> 00:07:53,560
Speaker 12: Jersey is arguing the Federal Highway Administration and New York

150
00:07:53,960 --> 00:07:59,040
Speaker 12: quote failed to adequately consider the environmental impact and ignore

151
00:07:59,080 --> 00:08:02,240
Speaker 12: the significant find central burden being placed on New jerseyans

152
00:08:02,560 --> 00:08:06,720
Speaker 12: and New Jersey transportation system. New Jersey Governor Phil Murphy,

153
00:08:06,720 --> 00:08:10,600
Speaker 12: who is against congestion pricing, says, you are not eliminating pollution,

154
00:08:10,800 --> 00:08:14,400
Speaker 12: you are just displacing it from Manhattan to New Jersey. However,

155
00:08:14,560 --> 00:08:17,200
Speaker 12: New York City comptroll Or Brad Lander is a supporter

156
00:08:17,280 --> 00:08:21,280
Speaker 12: of congestion pricing. Lander told Bloomberg he's sympathetic to small

157
00:08:21,320 --> 00:08:24,040
Speaker 12: business owners who say this will be a netted expense,

158
00:08:24,160 --> 00:08:25,520
Speaker 12: but You've just got.

159
00:08:25,320 --> 00:08:27,720
Speaker 13: To think about the city as a all. Everyone will

160
00:08:27,760 --> 00:08:30,920
Speaker 13: thrive better if customers can get to you faster, if

161
00:08:30,960 --> 00:08:34,679
Speaker 13: the city itself can keep its mass transit strong, if

162
00:08:34,720 --> 00:08:38,680
Speaker 13: congestion is reduced. You know, it's a fair process to

163
00:08:38,800 --> 00:08:41,640
Speaker 13: consider exemption. So those people want more of them, I

164
00:08:41,760 --> 00:08:44,719
Speaker 13: totally understand. But from the point of view of long

165
00:08:44,800 --> 00:08:46,680
Speaker 13: term investment in the city, this makes sense.

166
00:08:47,040 --> 00:08:50,760
Speaker 12: Congestion pricing is scheduled to start in June. In Baltimore,

167
00:08:50,800 --> 00:08:53,280
Speaker 12: the Army Corps of Engineers is getting a closer look

168
00:08:53,320 --> 00:08:56,680
Speaker 12: at the massive cargo ship that brought the Francis Scott

169
00:08:56,760 --> 00:09:01,040
Speaker 12: Keybridge down and the damage caused. Army Corps Engineer's Brigadier

170
00:09:01,040 --> 00:09:04,480
Speaker 12: General John Lloyd says divers are still working in low

171
00:09:04,600 --> 00:09:07,920
Speaker 12: visibility and hazardous conditions on the bridge wreckage.

172
00:09:08,080 --> 00:09:12,480
Speaker 14: The same complexity and challenges, even more so, are below

173
00:09:12,520 --> 00:09:15,440
Speaker 14: the water as well, and I think that's what's going

174
00:09:15,520 --> 00:09:18,680
Speaker 14: to make it such a challenge in removing this wreckage.

175
00:09:18,800 --> 00:09:21,400
Speaker 14: It's not only what you see above the water, but

176
00:09:21,480 --> 00:09:22,800
Speaker 14: below the water as well.

177
00:09:23,200 --> 00:09:25,560
Speaker 12: Two channels have been opened near the site of the

178
00:09:25,600 --> 00:09:29,880
Speaker 12: collapse bridge in Baltimore Harbor to make way for smaller vessels.

179
00:09:30,360 --> 00:09:34,640
Speaker 12: The Justice Department special consul prosecuting former President Donald Trump

180
00:09:34,800 --> 00:09:39,360
Speaker 12: for mishandling classified documents venett frustration with a judge overseeing

181
00:09:39,400 --> 00:09:43,120
Speaker 12: the case. Special Consul Jack Smith says US District Judge

182
00:09:43,120 --> 00:09:47,320
Speaker 12: Aleen Cannon's understanding of key legal issues appears to be

183
00:09:47,400 --> 00:09:51,280
Speaker 12: fundamentally flawed. In a court filing late yesterday, Smith called

184
00:09:51,360 --> 00:09:54,920
Speaker 12: on Cannon to clarify her intentions so he can decide

185
00:09:54,920 --> 00:09:58,000
Speaker 12: whether to file an appealed can test her decisions. Cannon

186
00:09:58,120 --> 00:10:01,720
Speaker 12: ordered Smith and Trump last month to draft instructions for

187
00:10:01,800 --> 00:10:03,960
Speaker 12: the jury that we'll hear the case. The order is

188
00:10:04,000 --> 00:10:07,720
Speaker 12: controversial because it directed Smith to assume that Trump may

189
00:10:07,720 --> 00:10:10,600
Speaker 12: have had the right to declare the documents are personal

190
00:10:11,000 --> 00:10:14,080
Speaker 12: rather than official. Global news twenty four hours a day

191
00:10:14,120 --> 00:10:16,640
Speaker 12: and whenever you want it with the Bloomberg News Now.

192
00:10:16,760 --> 00:10:18,920
Speaker 12: I'm Michael Barrn. This is Bloomberg, Karen.

193
00:10:19,040 --> 00:10:20,040
Speaker 9: Sorry, Michael, thank you.

194
00:10:24,720 --> 00:10:27,920
Speaker 1: Time now for the Bloomberg Sports Update with John stash Hour.

195
00:10:28,080 --> 00:10:29,440
Speaker 9: John, Thanks Karen.

196
00:10:29,440 --> 00:10:31,680
Speaker 15: The Yankees had to lose some time after starting five

197
00:10:31,720 --> 00:10:34,280
Speaker 15: and oh, they managed just three hits, lost seven nothing

198
00:10:34,320 --> 00:10:37,160
Speaker 15: of The Arizona d Backs scored three runs on five hits.

199
00:10:37,160 --> 00:10:40,160
Speaker 15: In the first inning. Esther Cortez his second straight start

200
00:10:40,320 --> 00:10:42,360
Speaker 15: where he's allowed three in the first day game. Today,

201
00:10:42,440 --> 00:10:44,719
Speaker 15: Yanks have their home opener On Friday. Red Sox won

202
00:10:44,800 --> 00:10:47,600
Speaker 15: five to four and eleven innings at Oakland. Giants lost

203
00:10:47,640 --> 00:10:49,520
Speaker 15: to the Dodgers five to four. Mookie Betts w with

204
00:10:49,640 --> 00:10:52,439
Speaker 15: already his fifth home run for LA. In Philadelphia, Bryce

205
00:10:52,480 --> 00:10:54,440
Speaker 15: Hartford didn't have a hit this season, then had a

206
00:10:54,480 --> 00:10:56,480
Speaker 15: big night against Cincinnati.

207
00:10:56,720 --> 00:10:59,480
Speaker 3: Suitor cup set and a three to two pitch swinging

208
00:10:59,520 --> 00:10:59,920
Speaker 3: a drive.

209
00:11:00,080 --> 00:11:02,239
Speaker 5: Ye'll hit up the alley right center field.

210
00:11:02,040 --> 00:11:04,199
Speaker 4: And it is gone a grand sound.

211
00:11:06,360 --> 00:11:09,840
Speaker 15: Three for number three is Bryce Harper, with his third

212
00:11:10,080 --> 00:11:13,480
Speaker 15: hole run of the night on WIP. Three homers six

213
00:11:13,600 --> 00:11:15,920
Speaker 15: rbyis for Harper. The Phillies won nine to four. Mets

214
00:11:15,920 --> 00:11:17,640
Speaker 15: and Tigers rained at at City Field to make it

215
00:11:17,679 --> 00:11:19,560
Speaker 15: up with a day game tomorrow. They'll hope to get

216
00:11:19,600 --> 00:11:23,000
Speaker 15: tonight's game in. In Miami, Knicks fellbhind by sixteen rally

217
00:11:23,040 --> 00:11:25,800
Speaker 15: the tie, but the heat prevailed one oh nine ninety nine.

218
00:11:25,880 --> 00:11:28,640
Speaker 15: The next third loss in a row, Dante DiVincenzo led

219
00:11:28,679 --> 00:11:30,559
Speaker 15: them with thirty one. In Philly, the return of Joe

220
00:11:30,679 --> 00:11:32,679
Speaker 15: lm beat out since January with a knee injury. He

221
00:11:32,720 --> 00:11:35,520
Speaker 15: played twenty nine minutes, scored twenty four and a six

222
00:11:35,600 --> 00:11:38,880
Speaker 15: ers win over Oklahoma City. The Warriors beat Dallas despite

223
00:11:38,960 --> 00:11:42,040
Speaker 15: thirty points at a triple double for Luca Donson. Pittsburgh Penguins.

224
00:11:42,080 --> 00:11:44,600
Speaker 15: After the win over the Rangers went to Jersey beat

225
00:11:44,600 --> 00:11:47,120
Speaker 15: the Devils six to three. Islanders top Chicago two the one.

226
00:11:47,160 --> 00:11:50,240
Speaker 15: The Bruins won three nothing at Nashville. The Capital's lost

227
00:11:50,280 --> 00:11:52,360
Speaker 15: six to two in Buffalo. Seaton Hall had a case

228
00:11:52,360 --> 00:11:55,280
Speaker 15: for making the NCAA Tournament. The Pirates had a win

229
00:11:55,360 --> 00:11:58,640
Speaker 15: over Mighty Yukon. They settled for the NIIT and in

230
00:11:58,640 --> 00:12:01,760
Speaker 15: Indianapolis they beat Georgia. They'll play Indiana State tomorrow for

231
00:12:01,800 --> 00:12:05,800
Speaker 15: the championship. Ratings in for the Iowa LSU women's game,

232
00:12:05,920 --> 00:12:08,320
Speaker 15: twelve point three million people watched.

233
00:12:08,400 --> 00:12:10,680
Speaker 12: That's more than any recent World Series game.

234
00:12:11,000 --> 00:12:13,640
Speaker 15: John Stashewer, Bloomberg Sports, Karen Nathan all.

235
00:12:13,600 --> 00:12:14,360
Speaker 9: Right, John, thank you.

236
00:12:14,480 --> 00:12:16,680
Speaker 1: SMP future is down at tenth of up percent, down

237
00:12:16,679 --> 00:12:20,040
Speaker 1: futures little change, NASDAG futures down two tenths of up percent,

238
00:12:20,080 --> 00:12:23,120
Speaker 1: and the ten year treasury yield four point three seven percent.

239
00:12:25,520 --> 00:12:29,680
Speaker 16: Coast to coast on Bloomberg Radio nationwide on Sirius XM,

240
00:12:29,760 --> 00:12:32,679
Speaker 16: and around the world on Bloomberg dot Com and the

241
00:12:32,679 --> 00:12:37,920
Speaker 16: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm

242
00:12:38,000 --> 00:12:40,160
Speaker 16: Nathan Hager. Let's get back to our top stories now.

243
00:12:40,200 --> 00:12:43,319
Speaker 16: Taiwan is reeling from its strongest earthquake in a quarter century,

244
00:12:43,320 --> 00:12:46,559
Speaker 16: and President Biden is delivering his harshest criticism yet against

245
00:12:46,600 --> 00:12:49,560
Speaker 16: Israel following the Gaza attack that killed seven AID workers.

246
00:12:49,600 --> 00:12:53,120
Speaker 16: With World Central Kitchen joining us for more is Rosalind Mathison, Europe,

247
00:12:53,120 --> 00:12:56,440
Speaker 16: Middle East and African news director for Bloomberg News. Roz,

248
00:12:56,480 --> 00:12:58,560
Speaker 16: thanks for being with us first catch us up on

249
00:12:58,600 --> 00:13:01,119
Speaker 16: the latest from this Taiwan earthquake.

250
00:13:02,559 --> 00:13:02,960
Speaker 9: Hi there.

251
00:13:03,000 --> 00:13:06,160
Speaker 10: Well, yes, it was the biggest earthquake to hit Taiwan

252
00:13:06,320 --> 00:13:09,640
Speaker 10: in twenty five years, and the footage obviously shows a

253
00:13:09,720 --> 00:13:13,520
Speaker 10: pretty strong tembla affecting buildings and so on. There's been

254
00:13:13,600 --> 00:13:16,600
Speaker 10: quite a lot of damage the buildings and the eastern

255
00:13:16,720 --> 00:13:19,800
Speaker 10: side of Taiwan. We know at least four people have

256
00:13:20,000 --> 00:13:23,480
Speaker 10: died in that. Luckily, Taiwan has buildings that are quite

257
00:13:23,559 --> 00:13:26,280
Speaker 10: resistant to earthquakes, so even though there's a lot of

258
00:13:26,360 --> 00:13:29,640
Speaker 10: damage to buildings, it does seem as though four people

259
00:13:29,720 --> 00:13:32,599
Speaker 10: so far have been killed. But also key thing is

260
00:13:32,640 --> 00:13:35,680
Speaker 10: the impact of the earthquake on the On the Islands

261
00:13:35,720 --> 00:13:38,960
Speaker 10: tech sector, because the chip companies there really are the

262
00:13:39,000 --> 00:13:41,760
Speaker 10: beating heart of the global supply chain when it comes

263
00:13:41,760 --> 00:13:45,559
Speaker 10: to semiconductors, particularly the top shelf stuff, the really high end,

264
00:13:45,600 --> 00:13:50,080
Speaker 10: precision made semiconductors. And we know that companies including PSMC,

265
00:13:51,080 --> 00:13:53,719
Speaker 10: the main contract chip maker to companies like Apple, n

266
00:13:53,840 --> 00:13:56,240
Speaker 10: Video and others, they've had to shut a lot of

267
00:13:56,240 --> 00:14:00,000
Speaker 10: their production down. That's because they use very very delicate

268
00:14:00,080 --> 00:14:04,040
Speaker 10: equipment that operates at certain vibrations, and obviously an earthquake

269
00:14:04,040 --> 00:14:07,320
Speaker 10: can do significant damage to their machinery. And this is

270
00:14:07,360 --> 00:14:10,000
Speaker 10: not stuff you can turn off and then turn back

271
00:14:10,040 --> 00:14:12,559
Speaker 10: on again straight away. So even if their buildings are

272
00:14:12,559 --> 00:14:16,000
Speaker 10: not damaged, they can't restart their equipment potentially for weeks.

273
00:14:16,040 --> 00:14:19,040
Speaker 10: It has to idle before it can be brought back online.

274
00:14:19,080 --> 00:14:22,080
Speaker 10: And so what we can expect is potentially some disruption

275
00:14:22,680 --> 00:14:25,640
Speaker 10: to chip production and certainly to the supply chain, even

276
00:14:25,680 --> 00:14:28,680
Speaker 10: if there's a lot of physical damage to these facilities.

277
00:14:28,760 --> 00:14:31,040
Speaker 10: But right now we don't know for sure the extent

278
00:14:31,080 --> 00:14:32,040
Speaker 10: of that, so.

279
00:14:32,040 --> 00:14:35,720
Speaker 2: How much disruption could we expect roz if we see

280
00:14:35,720 --> 00:14:38,720
Speaker 2: more aftershocks coming off the back of this seven point

281
00:14:38,760 --> 00:14:40,600
Speaker 2: four that's a strong magnitude.

282
00:14:41,360 --> 00:14:43,920
Speaker 10: Well, that's right, And either way, you know, we know

283
00:14:44,000 --> 00:14:46,080
Speaker 10: that these sites are going to have to operate what's

284
00:14:46,080 --> 00:14:48,800
Speaker 10: called a vacuum state for several weeks, So you have

285
00:14:48,880 --> 00:14:50,960
Speaker 10: to turn this equipment off, you have to let it

286
00:14:51,040 --> 00:14:54,240
Speaker 10: sit for several weeks, and then only then can you

287
00:14:54,280 --> 00:14:56,400
Speaker 10: restart it. So either way, there's going to be a

288
00:14:56,440 --> 00:14:59,800
Speaker 10: gap of some magnitude. And that's particularly again going to

289
00:15:00,320 --> 00:15:03,440
Speaker 10: the high end area of the chip market where those

290
00:15:03,520 --> 00:15:06,520
Speaker 10: chips might have been destroyed in the process, they might

291
00:15:06,560 --> 00:15:08,240
Speaker 10: be spoiled, and then again there's going to be a

292
00:15:08,320 --> 00:15:11,360
Speaker 10: lag to reproduce them. Of course, there is a backlog

293
00:15:11,520 --> 00:15:14,640
Speaker 10: of chips that can be used, so you may not

294
00:15:14,640 --> 00:15:16,640
Speaker 10: see an immediate effect on the supply chain. It might

295
00:15:16,680 --> 00:15:19,360
Speaker 10: actually come in a matter of months down the line

296
00:15:20,240 --> 00:15:23,520
Speaker 10: when those extra chips that are currently available run out.

297
00:15:23,600 --> 00:15:25,400
Speaker 10: And that's what we really need to watch for, is

298
00:15:25,400 --> 00:15:28,560
Speaker 10: the potential impact on the supply chain months from now.

299
00:15:28,600 --> 00:15:31,480
Speaker 10: But it does show again just how reliant, you know,

300
00:15:31,520 --> 00:15:35,240
Speaker 10: the global supply chain is on Taiwan and vulnerable to

301
00:15:35,320 --> 00:15:38,760
Speaker 10: disruptions that come from there, and beyond this moment, this

302
00:15:38,880 --> 00:15:42,760
Speaker 10: disaster that's affected Taiwan, there is an overatching question also

303
00:15:42,840 --> 00:15:46,440
Speaker 10: of the tensions with China, and of course China has

304
00:15:46,440 --> 00:15:49,880
Speaker 10: about to unify Taiwan. It sees Taiwan as part of

305
00:15:49,880 --> 00:15:53,400
Speaker 10: its territory. Taiwan sees itself as the opposite. So there's

306
00:15:53,400 --> 00:15:56,120
Speaker 10: the question there of further disruptions down the line.

307
00:15:56,320 --> 00:15:58,560
Speaker 2: And of course we heard President Biden have that phone

308
00:15:58,600 --> 00:16:02,520
Speaker 2: call with China's Hijen pinged try to stabilize that relationship.

309
00:16:02,560 --> 00:16:05,440
Speaker 2: But in our last thirty seconds, Roz, we're doing some

310
00:16:05,520 --> 00:16:09,880
Speaker 2: really harsh criticism from President Biden now against Israel following

311
00:16:10,000 --> 00:16:13,000
Speaker 2: that strike in Gaza that killed World Central Kitchen workers.

312
00:16:14,000 --> 00:16:16,200
Speaker 10: Well, that's right, some of the most strong language that

313
00:16:16,200 --> 00:16:19,440
Speaker 10: we've seen from the US president and just really reflecting

314
00:16:19,440 --> 00:16:22,280
Speaker 10: that growing sense of frustration on the part of the

315
00:16:22,400 --> 00:16:26,760
Speaker 10: US and other countries about the humanitarian situation inside Gaza,

316
00:16:26,960 --> 00:16:30,280
Speaker 10: and particularly what's been done to protect not just AID

317
00:16:30,280 --> 00:16:34,240
Speaker 10: workers but also Palestine civilians who are inside Gaza. We

318
00:16:34,320 --> 00:16:37,240
Speaker 10: know that tens of thousands of them have died as

319
00:16:37,320 --> 00:16:39,760
Speaker 10: part of this conflict, and so really the question is

320
00:16:40,200 --> 00:16:44,640
Speaker 10: what can they do to improve things on the ground. Also,

321
00:16:44,880 --> 00:16:46,920
Speaker 10: you know what does it mean for the potential invasion

322
00:16:46,960 --> 00:16:47,640
Speaker 10: of roughams?

323
00:16:47,680 --> 00:16:48,600
Speaker 16: Out right?

324
00:16:48,680 --> 00:16:51,800
Speaker 2: Okay, Rise Matheson. You're a Middle East and Africa news

325
00:16:51,800 --> 00:16:53,160
Speaker 2: director for Bloomberg News.

326
00:16:53,600 --> 00:16:56,640
Speaker 8: This is Bloomberg Daybreak Today, your morning brief on the

327
00:16:56,680 --> 00:16:59,920
Speaker 8: story's making news from Wall Street to Washington and beyond.

328
00:17:00,400 --> 00:17:01,160
Speaker 9: Look for us on.

329
00:17:01,120 --> 00:17:05,800
Speaker 1: Your podcast feed at six am Eastern each morning, on Apple, Spotify,

330
00:17:05,920 --> 00:17:08,040
Speaker 1: and anywhere else you get your podcasts.

331
00:17:08,240 --> 00:17:10,960
Speaker 8: You can also listen live each morning starting at five

332
00:17:11,000 --> 00:17:13,640
Speaker 8: am Wall Street time on Bloomberg eleven three to zero

333
00:17:13,640 --> 00:17:16,520
Speaker 8: in New York, Bloomberg ninety nine to one in Washington,

334
00:17:16,600 --> 00:17:19,480
Speaker 8: Bloomberg one oh six to one in Boston, and Bloomberg

335
00:17:19,560 --> 00:17:21,240
Speaker 8: ninety sixty in San Francisco.

336
00:17:21,600 --> 00:17:24,760
Speaker 1: Our flagship New York station is also available on your

337
00:17:24,800 --> 00:17:30,240
Speaker 1: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus.

338
00:17:30,280 --> 00:17:33,680
Speaker 8: Listen coast to coast on the Bloomberg Business app, SERIUSXM,

339
00:17:33,800 --> 00:17:38,080
Speaker 8: the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager.

340
00:17:37,840 --> 00:17:40,960
Speaker 1: And I'm Karen Moscow. Join us again tomorrow morning for

341
00:17:41,119 --> 00:17:43,600
Speaker 1: all the news you need to start your day right

342
00:17:43,640 --> 00:18:02,359
Speaker 1: here on Bloomberg Daybreak