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Speaker 1: News when you wanted with Bloomberg News Now, I'm Doug Krisner.

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Speaker 1: Israel says a Gaza ceasefire plan backed by Hamas has

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Speaker 1: fallen through. Israel's war cabinet rejected the proposal, calling it

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Speaker 1: far from the country's necessary demands. The IDF carried out

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Speaker 1: a fresh round of airstrikes against Rafa following the news. Earlier,

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Speaker 1: Hamas's political office had posted a statement on telegram saying

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Speaker 1: it had accepted the terms of the ceasefire proposal backed

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Speaker 1: by both Egypt and Cutter. Israel is vowing to push

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Speaker 1: forward with its air and ground offensive in Rafa despite

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Speaker 1: ongoing negotiations with its counterparts in Hamas. Chinese President Chichenping

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Speaker 1: is calling on France to help fend off a new

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Speaker 1: Cold War. He told French President Emmanuel Macron the two

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Speaker 1: nations should jointly oppose decoupling. The two leaders held talks

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Speaker 1: that included the European Commission President Ursula Vanderleyan. While all

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Speaker 1: parties are hoping to come away with newt T trade deals,

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Speaker 1: vonder Land says Europe is prepared to deploy all its

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Speaker 1: tools if China doesn't offer fair access to its markets.

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Speaker 2: A couple of weeks ago, we launched our first investigation

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Speaker 2: under the International Procurement Instrument. Europe cannot accept market distorting

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Speaker 2: practices that could lead to de industrialization here at home.

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Speaker 1: That is Ursula vonder Lay and the President of the

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Speaker 1: European Commission. By the way, China denies generally creating over capacity,

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Speaker 1: and it accuses the European Union of protectionism. The Biden

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Speaker 1: administration is reporting a drop in migrant crossings at the

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Speaker 1: southern border by one key metric. We have more from

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Speaker 1: Bloomberg's and Nathan Hager and Washington.

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Speaker 3: The number of migrant encounters with immigration authorities is down

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Speaker 3: forty percent in the first four months of this year

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Speaker 3: compared to the last four of twenty twenty three. That's

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Speaker 3: according to senior administration officials who spoke to Bloomberg on

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Speaker 3: the condition they not be named. They're crediting the decline

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Speaker 3: to increase east enforcement, as well as steps Mexico and

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Speaker 3: other countries farther south have taken to stem the flow.

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Speaker 3: The officials say the US will announce millions of dollars

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Speaker 3: for migration use as Secretary of State Anthony Blincoln heads

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Speaker 3: to Guatemala tomorrow to discuss the issue in Washington. I'm

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Speaker 3: Nathan Hager Bloomberg Radio.

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Speaker 1: The New York judge overseeing Donald Trump's criminal trial said

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Speaker 1: that he may have no choice but to jail the

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Speaker 1: former president if he continues to violate a gag order

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Speaker 1: intended to protect the safety of both jurors and witnesses.

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Speaker 1: Here's Bloomberg Sarah Forden.

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Speaker 4: The fines aren't working, which the judge said in open

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Speaker 4: court today. It was really truly a remarkable moment, and

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Speaker 4: he said, you know, mister Trump, I really don't want

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Speaker 4: to have to throw you in jail. You're a former

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Speaker 4: president and possibly our next president. But if you don't

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Speaker 4: stop violating the gag order, jail is the next resort.

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Speaker 1: That's Bloomberg, Sarah Forden. Trump was found in contempt of

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Speaker 1: court for a second time by the New York judge

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Speaker 1: overseeing his trial. Progressive US Senator Bernie Sanders is running

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Speaker 1: for re election. The Independent from Vermont made it official

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Speaker 1: in a video statement, these.

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Speaker 5: Are very difficult times for our country and the world,

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Speaker 5: and in many ways, this twenty twenty four election is

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Speaker 5: the most consequential election in our lifetimes.

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Speaker 1: Bernie Sanders is eighty two years old. He's already the

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Speaker 1: longest serving independent in US history. If he were to

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Speaker 1: win re election, that six year term would end after

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Speaker 1: his eighty ninth birthday. After the bell, we heard from

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Speaker 1: Pallenteer Technologies. The company reported sales for the latest quarter

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Speaker 1: above estimates, and Pallentteer raised its forecast for annual revenue.

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Speaker 1: The company cited demand from US firms for Pallenteer's new

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Speaker 1: artificial intelligence software. However, it appears as though the forecast

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Speaker 1: for annual sales did not impress the market very much.

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Speaker 1: The stock was down more than eight per cent in

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Speaker 1: the late US trading. We also heard after the bell

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Speaker 1: from the EV maker Lucid Group, the company reporting a

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Speaker 1: wider than expected loss begin the year. Lucid is contending

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Speaker 1: with some production challenges and uneven demand for those high

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Speaker 1: end electric vehicles. The stock was down about eight percent

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Speaker 1: in late US trading. Tomorrow, after the US close, we'll

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Speaker 1: get the quarterly numbers from Disney. Bloomberg Intelligence Media analyst

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Speaker 1: Geeta Raganathan tells us the mojo is back for this company,

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Speaker 1: despite lingering challenges for its traditional broadcast assets.

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Speaker 6: This is the most challenged part of their business. There's

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Speaker 6: no doubt about that. You have court cutting, you have

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Speaker 6: TV AD pressures, but it's still a cash cow for Disney.

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Speaker 6: It throws off about three and a half to four

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Speaker 6: billion dollars in EBITDA even with all the pressures, and

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Speaker 6: just because they have really must have programming. You know,

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Speaker 6: they do have a lot of sports content on ABC.

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Speaker 6: We do think they'll be able to hold out pretty well.

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Speaker 1: That is Bloomberg's Geeta Raganath and Disney shares in the

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Speaker 1: regular session, we're up nearly two and a half percent.

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Speaker 1: And that is news when you want it. With Bloomberg

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Speaker 1: News Now, I'm Doug Chrisner and this is Bloomberg New