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Speaker 1: News when you wanted with Bloomberg News Now, I'm Brian

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Speaker 1: Curtis in Hong Kong. Meta Platforms reported revenue for the

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Speaker 1: latest quarter in line with estimates, but increased its spending

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Speaker 1: estimates for the year. It also projected second quarter sales

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Speaker 1: below expectations. The stock fell fifteen percent in late trading.

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Speaker 1: At the same time, Meta's report came as President Biden

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Speaker 1: signed a bill that would force TikTok to be sold

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Speaker 1: by its parent or face a ban. Angelo Zeno from

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Speaker 1: CFRA Research says a ban would help Meta expand its

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Speaker 1: user base.

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Speaker 2: We also do have to see what happens with TikTok

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Speaker 2: here over the next year, so that could potentially help

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Speaker 2: their business improve engagement levels. They've been able to see

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Speaker 2: some improvement with reels kind of here over the last

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Speaker 2: couple of quarters, but when you look at some of

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Speaker 2: the gen z population there, it is all kind of TikTok.

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Speaker 2: It's snap out there.

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Speaker 1: Meta said it's too early to assess the law's impact

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Speaker 1: on its business. Sk heinez has logged its fastest pace

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Speaker 1: of revenue expansions at least twenty ten. Heinex reported strong

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Speaker 1: sales of high end memory chips used to power AI applications.

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Speaker 1: Tom Kang at Counterpoint says he's expecting a record breaking

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Speaker 1: year for the company.

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Speaker 3: We see more to come in the second, third, fourth

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Speaker 3: because HPM it's fully sold out for this year. As

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Speaker 3: soon as sk Heinex manufactures more, the clients will be

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Speaker 3: in line to get it. So we're thinking about sixty

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Speaker 3: one to sixty two trillion for the full year, and

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Speaker 3: the profit margins will be also very high. It will

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Speaker 3: be above twenty percent of our view, so about twenty

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Speaker 3: two percent profit margin for this year.

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Speaker 1: That's Tom Kang. Sales at s k Heinex more than

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Speaker 1: doubled to nine billion dollars in the March quarter, beating expectations.

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Speaker 1: The company is planning to build a fourteen point six

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Speaker 1: billion dollar ship facility in South Korea to meet AI demand.

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Speaker 1: US Secretary of State Anthony Blincoln is set to begin

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Speaker 1: several days of very tense talks in China. Bloomberg's Join

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Speaker 1: Wong has more from Hong Kong.

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Speaker 4: Officials say Lincoln will press Beijing on issues including china

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Speaker 4: support for Russia and industrial overcapacity. Also on the agenda

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Speaker 4: are Beijing's claims over Taiwan and activities in the South

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Speaker 4: China Sea, Lincoln will hold talks with senior Communist Party

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Speaker 4: officials in Shanghai today. He'll then head to Beijing for

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Speaker 4: a final day of meetings, including a possible face to

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Speaker 4: face with President Chijing Ping. The trip comes as new

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Speaker 4: US sanctions loom and just after President Biden called China xenophobic.

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Speaker 4: Our reporting suggests Lincoln is unlikely to walk away from

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Speaker 4: meetings this week with any big breakthroughs in Hong Kong

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Speaker 4: join Wang Bloomberg Radio.

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Speaker 1: An Arizona grand jury has indicted Mark Meadows, Rudy Giuliani,

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Speaker 1: and the slew of other top Trump aids. This is

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Speaker 1: on felony charges related to alleged efforts to subvert Joe

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Speaker 1: Biden's victory in twenty twenty. The Washington Post says seven

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Speaker 1: attorneys and aids affiliated with Trump's presidential campaign are included,

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Speaker 1: so are eleven Arizona Republicans. They're accused of trying to

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Speaker 1: award the state's selectoral votes to Trump instead of Biden

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Speaker 1: after the twenty twenty pole. President Biden has signed a

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Speaker 1: ninety five billion dollar national security package. The law includes

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Speaker 1: a measure that could ban TikTok in the US by

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Speaker 1: next year. That's unless its Chinese owner, Bike Dance sells it.

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Speaker 1: Supporters say their goal is not to remove the video app.

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Speaker 1: TikTok Ceo show Chew is responding to that with a

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Speaker 1: TikTok of his own.

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Speaker 5: Make no mistake, this is a ban, a ban on TikTok,

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Speaker 5: and a ban on you and your voice. Politicians may

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Speaker 5: say otherwise, but don't get confused. Many who sponsored the

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Speaker 5: bill admit a TikTok ban is the ultimate goal.

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Speaker 1: Show Chow says the company will fight the measure in court.

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Speaker 1: The Arizona House has voted to repeal the state's eighteen

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Speaker 1: sixty four abortion law. Bloomberg's Ed Baxter has the story.

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Speaker 6: The almost complete ban on abortion only to save the

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Speaker 6: mother's life could go into effect as early as June

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Speaker 6: eighth if it isn't repealed. Republicans have narrow majorities in

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Speaker 6: both chambers, but recent uproars have obviously changed some minds,

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Speaker 6: and so in the House. The state Senate could take

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Speaker 6: up the repeal vote next week. Two Republicans already say

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Speaker 6: they are supporting it. Governor Katie Hobbs has been urging

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Speaker 6: the repeal. Now this will add to the heat of

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Speaker 6: the issue nationally politically at Baxter Bloomberg Radio.

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Speaker 1: Tomorrow, the US Supreme Court will hear arguments to determine

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Speaker 1: whether former presidents are immune from criminal prosecution for acts

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Speaker 1: they took while in office. The case will determine if

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Speaker 1: former President Trump could face a trial in federal court

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Speaker 1: that would be to face charges he incited the January

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Speaker 1: sixth Capitol riot. Trump argues the constitution gives presidents absolute

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Speaker 1: immunity from prosecution over official actions. Previously, two lower courts

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Speaker 1: ruled against Trump. Both ruled the he was seeking something

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Speaker 1: that could not be found in the Constitution. The case

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Speaker 1: is one of four prosecutions hanging over Trump. He has

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Speaker 1: also claimed presidential immunity in those cases, even though many

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Speaker 1: of the allegations involve alleged conduct when he was a

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Speaker 1: private citizen. That's news when you want it. With Bloomberg

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Speaker 1: News Now. I'm Brian Curtis. This is Bloomberg