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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: Brian Curtis in Hong Kong. Taiwan has been hit by

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Speaker 1: the strongest earthquake in a quarter of a century. At

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Speaker 1: least twenty six buildings have collapsed. No information on any casualties.

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Speaker 1: Shocks from the quake shook buildings in the capital Taipei

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Speaker 1: and led to tsunami warnings. The quake hit at seven

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Speaker 1: point fifty eight in the morning local time Wednesday and

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Speaker 1: measured seven point four in magnitude according to the US

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Speaker 1: Geological Survey. The epicenter was said to be eighteen kilometers

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Speaker 1: from Hualien City on the island's east coast. It's the

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Speaker 1: biggest seismic event by magnitude since nineteen ninety nine, when

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Speaker 1: the so called nine to twenty one quake hit the

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Speaker 1: island and killed more than two thousand people. Bloomberg's Adrian

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Speaker 1: Kennedy has more from Taypei.

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Speaker 2: Taipei right now is back to normal. There cows and

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Speaker 2: motorcycles on the street. We're operating for our offices here normally.

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Speaker 2: You know, Taiwan people are pretty resilient. They're used to earthquakes.

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Speaker 2: The use of severe flooding and typhoons is a phillly

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Speaker 2: natural disaster. Own Island on the east coast is an

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Speaker 2: area which was more remote. It's cut off from much

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Speaker 2: of the island by mountains, and it's more difficult to reach,

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Speaker 2: and it is much more susceptible to earthquakes. You constantly

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Speaker 2: feel the earthquakes when you visit there. So I think

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Speaker 2: that that area they're going to have to spend some

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Speaker 2: time assessing the situation.

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Speaker 1: Bloomberg's Adrian Kennedy reporting from Taipei. US President Joe Biden

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Speaker 1: and former President Donald Trump are projected to win their

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Speaker 1: respective party's presidential primaries. The Associated Press has projected wins

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Speaker 1: for both candidates in Rhode Island, Connecticut, New York, and Wisconsin.

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Speaker 1: Biden and Trump both secured enough delegates to win their

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Speaker 1: nominations back in the middle of March. The APIs has

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Speaker 1: tens of thousands of Wisconsin primary voters cast protest votes

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Speaker 1: on Tuesday against President Biden. Voters are protesting his handling

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Speaker 1: of the Israel Hamas war. Meantime, President Biden has issued

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Speaker 1: his strongest statement yet of criticism on Israel's attacks in Gaza.

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Speaker 1: Bloomberg's ed Baxter has the story.

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Speaker 3: President Biden says Israel has not done enough to protect

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Speaker 3: civilians in Gaza. This following the killing of seven World

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Speaker 3: Central Kitchen workers providing aid to Palestinians. Secretary of State

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Speaker 3: Anthony Blincoln says the work they're doing there is extraordinary.

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Speaker 4: Spoken directly to the Israeli government about this particular incident.

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Speaker 4: We verged a swift, a thorough, an impartial investigation to

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Speaker 4: understand exactly what happens, and.

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Speaker 3: The President is now also pushing for an immediate cease

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Speaker 3: fire as part of a hostage deal ed Baxter Bloomberg radio.

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Speaker 1: US Treasury Secretary Janet Yellen will travel to China this week.

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Speaker 1: She's scheduled to meet Vice Premier Hulli Fung along with

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Speaker 1: his predecessor Leo Hu. Yellen intends to address China's industrial

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Speaker 1: overcapacity and how it poses threats to the rest of

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Speaker 1: the world's economies. At FED Bank of San Francisco, President

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Speaker 1: Mary Daly says three interest rate cuts still a reasonable

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Speaker 1: expectation for this year. However, she said nothing is set

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Speaker 1: in stone.

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Speaker 5: I think that is a very reasonable baseline, but I

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Speaker 5: would like to say here that this is a projection right.

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Speaker 5: Three rate cuts is a projection, and a projection is

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Speaker 5: not a promise. We have to be ready for what

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Speaker 5: if inflation's stickier than we projected or I projected. If

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Speaker 5: I look out at my projection and I say, well,

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Speaker 5: what if inflation's stickier, we may want to cut less.

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Speaker 5: What if the labor market starts to falter or inflation

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Speaker 5: comes down more rapidly, Well, then we might be in

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Speaker 5: a position where we would think cutting more is appropriate.

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Speaker 1: San Francisco Fed President Mary Daily. In corporate news, Tesla's

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Speaker 1: shrifes fell nearly five percent after the automakers said first

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Speaker 1: quarter deliveries under shot estimates. The firm delivered just under

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Speaker 1: three hundred and eighty seven thousand vehicles, compared with the

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Speaker 1: average estimate of about four hundred and fifty thousand. Meantime,

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Speaker 1: March was a strong month for Chinese EV makers. Bloomberg's

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Speaker 1: Joan Wong has More from Hong Kong.

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Speaker 6: BYD sales jumped forty six percent year on year to

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Speaker 6: more than three hundred and one thousand vehicles. Pure battery

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Speaker 6: electric cars accounted for about one hundred and forty thousand

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Speaker 6: Together that brought BYD's EV sales for the first quarter

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Speaker 6: to slightly more than three hundred thousand. Meantime, the three

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Speaker 6: US listed Chinese automakers Lee, Atto, Neo and x Punk

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Speaker 6: also reported a search. They saw deliveries up between fourteen

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Speaker 6: and thirty nine percent in March. The strong performance came

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Speaker 6: after a quiet start to twenty twenty four, but price

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Speaker 6: cuts and other incentives attracted buyers in Hong Kong. Joanne

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Speaker 6: Wong Bloomberg Radio.

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Speaker 1: That's news when you want it with Bloomberg News Now.

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